Just Another Day

"Any idiot can handle a crisis, it's day to day living that wears you out." - Chekhov

Wednesday, March 23, 2005

An Idea

Here's a thought: like FDIC, why don't we end the retirement provisions of SS and allow people to invest in the stock market but the government provides backup insurance, in case the market goes sour when they retire, which will provide for fully-indexed coverage in retirement based on current payouts and benefits? In other words, the people get to invest, the markets get to absorb the investment, and the kingpins sitting atop the investment companies can suck in their fees. If the people don't get the same level of benefits as they would have with today's SS structure, the government makes up the difference up to 100%. As the GOP is so hot on their belief the market can do no wrong, they can put their money where their mouth is and they will have to state that it's a good deal since there is no way the markets will fail in the long run and there is no way that a person can't do better than SS in the long run. With the currently cautious markets, it would be a good time to put the GOP on the spot.