AARP Has Its Own Private Accounts

NewsMax ^ | 4/28/05

[NavVet]

While AARP is busy bashing President Bush's plan for personal retirement accounts as unsafe, the organization is raking in millions of dollars from its own private stock and bond accounts.

[NavVet]

A classic case of "Do as I say, not as I do." The AARP, like the Dims needs to keep a large segment of the population poor and dependent on a megar government handout. If people were allowed to keep enough of their money to actually acumulate wealth, the AARP would be out of business, and the DIMS would all be out of jobs.

[Knute]

So do all our Congresscritters!

[xcamel]

"Ya Think ???"

[Piquaboy]

I have always thought that one had to be a few bricks shy of having a full load to join that socialist organization. The people that I know who joined want some free handouts and that is the only reason.

[Matchett-PI]

bttt

[reg45]

AARP Has Its Own Private Accounts

Probably in Swiss banks.

[Puppage]

AARP Has Its Own Private Accounts

In the evil world of socialism it's..good enough for ME but not for thee

[TheForceOfOne]

The AARP is like the Jim & Tammy Baker of senior citizenship. One day they will be exposed and the whole scam will crumble.

[PGalt]

Great article. Thanks for posting and commenting. Ditto!

Chris Ruddy (Newsmax) was on Michael Savage last night and gave FreeRepublic a huge plug.

[ceoinva]

Flee the AARP! Join USA Next! www.usanext.org

[Racehorse]

A classic case of "Do as I say, not as I do."

Don't remember AARP claiming anyone should rely solely upon Social Security, do you?  Makes AARP look rather prudent, actually.  The organizations is certainly vulnerable to criticism, but this article fails to show any weakness or hypocrisy on AARP's part--only demonstrates AARP's good sense in diversifying.

Maybe the good stuff was edited out of the article due to lack of space.

[Libloather]

From the AARP site - http://www.aarp.org/research/legis-polit/ssreform/aresearch-import-289-9909.html

Social Security Reform
The Thrift Savings Plan for Federal Employees
Research Report
Laurel Beedon, AARP Public Policy Institute
July 1999

The Federal Employee Retirement System (FERS) uses a three tiered approach to retirement income: The FERS comprises Social Security, a defined benefit pension, and an individual savings plan called the Thrift Savings Plan (TSP). A number of the plans to reform Social Security include providing individuals with the opportunity to save and invest on their own. This 29-page paper by Laurel Beedon of PPI examines the TSP from a number of perspectives to determine whether the TSP is a viable model for an individual investment tier for Social Security. The paper begins by describing what Congress intended when it created the TSP, how the plan's administrative design and investment options reflect that intent. It goes on to discuss how employees have responded to the plan and what it offers. The paper concludes that the TSP provides some valuable information on how an individual, tax-favored, voluntary savings/investment account works when added to a program that includes Social Security and a pension. If, however, it is to be used as a model for reform of Social Security it must be remembered that the TSP represents 2.3 million workers, whereas Social Security represents 129 million. Thus, using the TSP as a model requires some caution.

The Full Report (PDF) is at the website.

[teledude]

The AARP has done nothing but lie and demagogue this issue. This just shows their hypocrisy . They have been using "scare tactics" to keep people dependent on government...and them.

[Major_Risktaker]

Did you know that the AARP has received over $1 BILLION in taxpayer dollars over the past 20 years?

[Racehorse]

Ok. You don't like AARP.

Nothing in the article points to AARP duplicity.

[Holicheese]

There is great hypocrisy in AARP stance. They compared private accounts to playing the slots in Vegas. But, they make large sums of money getting their loyal minions to "play slots" and give them a cut. You don't don't see any issue of hypocrisy here?

[HankReardon]

The problems with Social Security are nothing but a clogged drain and President Bush wants to fix this clogged drain by tearing down the whole house, right?

I saw the AARP commercial, they would not misrepresent things to our older family member and friends concerning money they are counting on to provide for themselves would they?

It's time to call liars, liars.

[Racehorse]

You don't don't see any issue of hypocrisy here?

No.  Not based on anything in this article.

If AARP and its employees are somehow exempt from participating in Social Security, then I would agree on their hypocrisy.  Otherwise, they seem to be doing what any prudent organization ought to be doing.

[HankReardon]

How is calling voluntary partial personal investment accounts in the private market nothing more than "gambling" and a "risky scheme" and basically being opposed to investing in the private market at the same time one is heavily invested in the private market NOT hypocrisy?

[genefromjersey]

This is just plain silly !

We already HAVE "private accounts". They're called IRA's. They have been around for a long time,and they work-about as well as "privatized" accounts would work. (Ours lost money,by the way.)

President Bush has certainly satisfied those campaign contributors who wanted him to push for privatization,and it's obvious the idea is NOT going to fly. It is, in fact,derailing his presidency.

It's time to stop the BS (most of which is originating in the well-funded privatization advocacy groups) and move on.

Raise the bloody SS tax and be done with it !

Oh, and while you're about it, Mr. President,cut off the flow of SS money to illegal aliens.