I know what the general idea is, but government has no business telling me how I should save, where I should save or even if I should save. In a free society, people would have complete control over their own money. Quite a novel concept these days.
Contrary to the general consensus around here, there is nothing private or even remotely capitalist about Bush's "privatization" plan. His is a prescription for yet more government control. If he gets his way, bureaucrats--many of whom retire with pensions ranging in the hundreds of thousands of dollars--will tell you which stocks you can invest in, how much you can invest, how much you can withdraw and the rate at which it can be withdrawn. On top of that, in order to make your investments "safe," they will have to impose more regulations to prop up those companies.
Put simply, market forces won't apply. It's a proposal that pays lip service to capitalist ideals while at the same time undermining the free market. (Besides, anyone who honestly believes that the feds will have no way of getting their hands on these so-called "private" accounts is living in a dreamworld.)
Unfortunately, conservatives will go along with this ridiculous plan simply because it's "better" than what the Democrats are proposing. Here's an idea: why not start to phase out Social Security? Fulfill the obligations to those currently collecting checks and then offer a refund to people for evey dime they've paid into it. Finally, allow the rest to opt out completely.
The problem is that Republicans can't even bring themselves to admit that the entire concept of a government-controlled retirement plan is not only unconstitutional, but immoral. Until we get to that point, things will keep getting worse.
What world do you live in? It isn't the real one. Get real, and then we can talk. If not, then, sorry, no can do.
And do not bother saying that Bush could lead us directly to phasing out Social Security by announcing that as his intention, just like he is leading the world toward more freedom. In political America, it does not work that way.
What you need to get is that one day, Social Security as we know it will not be anything like today, or even much like what Bush proposes. It will be more like what you wish, and the man who will had the political capital and the cajones to start us down that road without being so stupid as to say it in so many words, will have been George W Bush.
And as an enormous side-benefit, the Dem party will be in ruins because of their untenable positions on such matters...also brought about by Bush.
No, the problem is not what the Republicans want. The problem is what the electorate wants.
If you can't bring yourself to admit that, then you will never be part of the solution.