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It would certainly be preferable to the Bush proposal. The major
problem is not that it ends social insurance - since this function can be
duplicated by insuring account investments to some level (although if an index
fund tanks, the entire economy, which is the engine for social security taxes
also tanks). The worst problem is that the Bush plan vests control not
with the worker, her representatives, or even the government, but with the fund
managers who tend to back management - and prod it to act for the investors
rather than in the interests of the workers. In other words, if you
thought ENRON was bad.....
Mike
Greg Southworth <greg27241@yahoo.com>
wrote:
Is there anything to be learned by applying the Mondragon Cooperative
model? I am dead serious. We need to offer a Real ownership
society model.
Greg
Michael Bindner
<bindner@IowaFiscalEquity.net> wrote:
Remember to watch Bush's speech tonite. It looks like he's
actually going to go with Privatization as a big agenda item. Now, the
question is, how do we hijack it to expand ownership.
There will not be a chance like this for decades. Once this
debate is resolved, no one is going to want to revisit the issue for a long
time.
Mike Bindner
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