We figured that out from your posts lauding the social security program.
The bottom line is that the stock market is inherently too volatile to tie to pensions at any point.
That is why any investment plan should include a diversified portfolio rather than investing in one particular stock. A retirement investment plan that does not include any investment in diversified portfolio equity funds is unlikely to provide returns that will do anything more than keeping up with inflation.
And that perhaps, is the greatest flaw in the President's plan as the average American understands this.
The average American doesn't understand squat, but demogogues anxious to preserve the status quo are ready to provide plenty of misinformation and you are swallowing it hook, line, and sinker. Social security is a loser of a retirement program. If you are relying on SS to take care of you I hope you have wealthy (and generous and compassionate) children who will be willing and able to take care of you. Otherwise, that is just more of my tax money that will be required to support people who were unwilling to do anything to provide for themselves and their families.
WASHINGTON — As he nears the end of a 60-day cross-country campaign, President Bush appears to be further from achieving his signature goal of transforming Social Security than when he began.
Support for Bush's vision of individual investment accounts has ebbed; a USA TODAY/CNN/Gallup Poll taken this month shows nearly twice as many Americans oppose the idea as support it. The public's sense of urgency on Social Security has slipped a bit. Not a single Senate Democrat has come out in support of Bush's plan.
And Republicans are divided. Senate Finance Chairman Chuck Grassley of Iowa, who convenes hearings on Social Security on Tuesday, is open to putting individual accounts aside and focusing on the system's long-term solvency. But some conservatives, including Reps. Mike Pence of Indiana and John Shadegg of Arizona, members of the House leadership, want a showdown on accounts.....