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And they can bus the poor kids to the more elite schools so they can clean up after rich kids! Wow what an idea!
win-win...
That's his agenda.
And they can bus the poor kids to the more elite schools so they can clean up after rich kids! Wow what an idea!
win-win...
Like I said. He violated the Contract with America.
Gingrich’s Latest Social Security Scheme: Privatize The Program Then Bail Out Bad Investors
The government guarantees that all workers with personal accounts will receive at least as much in retirement as they would under the current Social Security system. If someone with a personal account retires with benefits lower than those offered by the current system, the Treasury will send them a check to make up the difference. Thus, there is a legal government obligation that in a worst case scenario a retiree will be able to enjoy benefits at least as good as they would under th e traditional Social Security system.
sets up a huge moral hazard problem. If investors know full well that the government is going to provide them with a minimum benefit, no matter what they do, then the incentive is to make risky investments and hope for a big payoff. After all, why not take the risk if the government has guaranteed that you can’t lose money? Investors have every incentive to bet big in the hopes of a large payout, because if they go bust, the government will bail them out.
Add to this the fact that the privatized systems in Chile and Galveston aren’t as wonderful as Gingrich makes out. In fact, while they work quite well for the wealthy, middle- and lower-income participants wind up worse off. Regarding the Galveston system, Eric Kingson, a professor of social work at Syracuse University, explained that “for most people, it’s somewhere between ‘very bad’ and ‘not very good.’ ” Chile’s system, meanwhile, has “left millions without savings for their retirement.” According to estimates by Chile’s undersecretary for pensions, “in 2007, only 60 percent of Chilean workers had some kind of pension coverage, down from 86 percent in the 1970s.”
http://thinkprogress.org/economy/201...vatize-scheme/
I have wondered before how SA's city manager has that kind of time.
those that believe we can live in totally free market are living in fantasy land. Somebody is gotta protect society from greed
"to do a detailed online explanation of the policies he would pursue and the thought process behind it"
He will NEVER get the Bully Pulpit, but BP reaches a lot further than some iddy biddy course at scammers like Phoenix, Kaplan, ...
And who will do that? The elected officials. Nancy Pelosi? She has become a multi-millionaire. Harry Reid? All the congressmen have made a fortune on insider trading, while passing laws to protect against the greedy. Who determines who has too much and is greedy?
govt is the only countervailing power to hold the corps and finance in check, but the govt has been weakened, captured, corrupted by the power of the corps and finance who paid for the policies that increased the wealth = power, while bankrupting/weakening govt.
snc, class warrior.
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