Posted on 06/19/2005 5:13:23 PM PDT by CHARLITE
The 20th Century’s energizing dynamic was totalitarian socialism. Leading that parade were proponents like Stalin and Communist Russia, Hitler and his National Socialist Party, China’s Chairman Mao and a host of lesser lights like Saddam Hussein in Iraq.
All preached the equality of outcomes for their people despite their own personal power-hungry obsessions. All seduced the world with their “humanity” that no one should paid more for their work than any other. They all preached a socialism that elevated the group at the expense of the individual.
Fortunately for America, their citizens continued their abiding devotion to individualism during the 20th. And despite the persistent collectivist propaganda from their media, academe and some politicians, Americans remained on course to realize the impossible dream described by Abraham Lincoln on the fields of Gettysberg, “a government of the people, by the people and for the people.”
We are hopeful that individualism will be made more successful in America and in the world and that the Ownership Society will become the animating principle of the 21st Century.
The Ownership Society is one in which the individual is elevated to a status greater than the government. That as many of the functions heretofore considered the province of government are privatized and vested in the hands of the people. That the people become more capable and stronger in managing their own lives. That in the process of privatization, the functions privatized are improved substantially and the people freed from the shackles of poverty by using methods of wealth creation that heretofore have been the province of the private sector.
“Compounding” is one of our most effective tools and will be responsible for privatizing Social Security, the first element of the Ownership Society.
As demonstrated in this column and on this site, compounding is the key element in making the poor rich and legislating the government out of our lives. After a 40-year working life, a truck driver with a stay-at-home wife making the entry wage of $60,000 a year in 2005 dollars for his entire 40 years will generate a nest egg of $4,384,00 if invested at the average rate of return of stocks for the last 129 years (S&P 500 Stock Index) or $911,000 in the average rate of return for US Bonds at the same period of time. (See Table 1).http://www.thenewsocialsecurity.com/table-1-5.html
These numbers speak for themselves. The judicious use of compounding and the privatization of those functions like retirement funding can all be financed by compounding. That is if the people are made aware of the concept of privatizing Social Security and not misled by Democrats and the mainstream media into believing the lies the Democrats are using to defeat privatization before it gets any traction.
They know better than anyone that if the 50% of the people that presently have never invested in stock get a chance to do so and get wealthy in the process, the social leveling the Democrats preach will play to an ever decreasing audience.
Right now, on June 19th. 2005, the mainstream media, the Democrat Party operatives and some vulnerable Republicans are leaning towards deferring the reform of Social Security until next year or beyond. If there ever was a time and a place for Republicans to show some of their storied courage to make the change so desperately needed to kick off the ownership society, it is now with a President so intent to make this sea change.
The public is reeling from the onslaught of fictitious lies and distortions about passing a law giving Personal Retirement Accounts to the voters. The polls indicate just how effective the Democrat lies have overwhelmed the poor attempts made by Republicans.
Surveys find that 66% admit Social Security is important to them. Eighty (80%) per cent believe it is government’s responsibility to provide for a “decent” retirement. Of those under 45, 70% don’t believe the money will be there when they retire. Forty-five (45%) per cent of the people believe their personal savings will be the major source of funding their retirement, yet 68% of the people can’t seem to save anything and are having a tough time paying their bills. Seventy-five (75%) of the people think the investments in stock are “generally risky”. Only 18% think they could invest on their own and make money. As you would expect from a Democrat poll most favor raising the taxes on the rich by raising the cap on the income subject to tax but reject the call to raise the retirement age.
We have answered all the questions these polls pose, and proved them all easily countered by our positions. This portends that Republicans will have an easy win if their plans get aired in a way that demonstrates PRA’s as a pocketbook issue, that it will make the poor rich, that everyone is a winner, that people will take charge of their own lives and the size of government will shrink. All it takes is money. The mainstream press will continue to omit the truth. It will be up to us to inform the public. And that will take money and advertising to reach them. If we drop the ball, who knows how long it will be until we have this chance again.
Comments: RAMcDonald@aol.com
America's FDR and the Democratic party.
But any privatization attempt will fail, unless we end the money creation monopoly (aka Fed Reserve) and go back to Constitutional money (aka gold/silver standard), I am afraid
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