Thanks for your comments and thanks too for mentioning the Cato alternative plan. I see you are involved with the sscommonsense.org site and can understand your attitude to the Cato plan. There's room in this discussion for everyone's opinion.
But I must say something about investing in the stock market with personal retirement accounts. Obviously, you don't think this can work. I disagree. I know it can and so does the Cato Institute.
Why do you think the economy is booming at the moment? Could it be that there are private investments allowing these established and upstart companies to grow? It takes money for business to grow, to upgrade, to modernize, invent new products, expand new ideas, etc., etc., etc. Where is the best place to get this money? From private investors. From people (not government) deciding with whom and what company they wish to invest with.
"Soak up all the stocks on the U.S. stock market"? Give me a break. As long as people want to invest, I can guarantee you that there will be plenty of companies to invest in. It is exactly because of these investments that new technologies and new companies are booming. Take away those investments and see how fast this booming economy will come to a halt.
This is why the Cato plan is good for individuals, good for business and good for the long-term and continued growth of our economy.
Yes, we Cato followers believe in a free market society. Free market is what this country is built upon. We are only asking that the government lifers and politicians let us Americans do what has made this country great. Operate and live in a free market society with as little as possible of government intervention - just as our founding fathers envisioned. It was right when they wrote the Constitution and it is right now.
Yes, it is my money and I know I have the right to manage it the way I see fit. Problem is, people before me have allowed our government to get off track. We have lost, and are losing more everyday, of our given rights. I am sick of it and I don't believe SS can be saved. We need to start over and I believe the Cato plan does this.
I know you disagree, but you are wrong about the stock market and other investment vehicles. And giving control of your money to a government through a regressive tax is wrong. Allowing our government any control over our private investments is wrong. Give control to the individuals and everything else will fall in place. There is no ifs, ands, or buts about it. End of story.
