Re: SOCIAL_INS: Re: OWNERSHIP: FICA funds to ESOPs ???

[Mbindnerdc@aol.com]

Still, my point is that if he wants to get a bill done, he will work with what 
will likely be a Democratic Congress to craft one that they will let through.  
What I propose are some likely features.

Mike

In a message dated Thu, 19 Sep 2002 15:42:45 +0000, "William B. Ryan" 
<william_b_ryan@hotmail.com> writes:

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>"Given his prior experience as a compromising GOP Governor with a Democratic 
>state legislature, I think he will."
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>Very little compromise was needed.nbsp; For the most part, Texas Democrats are 
>ideologically indistinguishable from Texas Republicans.
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>This is a legacy from the Reconstruction era when the name "Republican" became 
>identified with the Carpetbagger occupiers from Yankeeland.
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>After the Reconstruction restrictions were lifted, Texas became ostensibly a 
>one-party state.nbsp; But in reality there were two parties within the 
>Democratic Party--"liberal" and "conservative."nbsp; The conservatives were 
>always in majority, though sometimes they were populist-conservative.nbsp; So 
>the Democratic primary became the real election.nbsp; The general election in 
>November became inconsequential, a mere formality.
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>Now there are geographical distinctions between Republicans and 
>Democrats--rural Texas remains Democrat and urban Texas is Republican because 
>of immigration into the cities from other states in recent decades.nbsp; One 
>of those immigrants was George W. Bush's father.nbsp; In Houston, for example, 
>when the Republicans became a majority, most Democrat office holders flipped 
>to the Republican Party and ran in the Repubican primary in the next election.
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>In Texas, the primaries - Democratic and Republican - remain far more 
>important than the election in November.
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>----Original Message Follows---- 
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> From: Mbindnerdc@aol.com Reply-To: social_ins@cog.kent.edu To: 
>ownership@cog.kent.edu CC: social_ins@cog.kent.edu Subject: SOCIAL_INS: Re: 
>OWNERSHIP: FICA funds to ESOPs ??? Date: Thu, 19 Sep 2002 10:06:44 -0400  It 
>depends. If what I am proposing increases wealth for workers and is more 
>progressive than the current system - and if it mandates that workers have a 
>serious voice in the management of the firm (including factional 
>representation on the ESOP and corporate boards), and provided that deposits 
>are insured, the proposal might have a chance.  In fact, what I am demanding 
>may be useful to the retirement lobby as, if nothing else, a poison pill. Some 
>argue that the real motivations behind the privatization movement are to 
>eliminate the progressive distribution of benefits and to enrich brokerage 
>houses. My proposals do neither of these things. In the end, conservatives may 
>oppose them as "galloping socialism."  How they play depends upon the results 
>of the election and the political will of the President. If he really wants 
>some form of privatization to pass, and the Senate stays Democratic (and the 
>House follows), he will have to compromise to do so. Given his prior 
>experience as a compromising GOP Governor with a Democratic state legislature, 
>I think he will.  We will see in November.  To continue this thread, please DO 
>NOT RESPOND IN OWNERSHIP.  Join and switch to social_ins@cog.kent.edu  Michael 
>Bindner In a message dated Wed, 18 Sep 2002 2:13:26 PM Eastern Standard Time, 
>"Ronald L. Ludwig" writes:  gt;In light of the Enron, Lucent, WorldCom and 
>similar debacles (and the coming nbsp;new legislative rules/limits on 
>investing 401(k) funds in employer stock), it's highly unlikely that any U.S. 
>politician (even one who supports both ESOPs and partial "privatization" of 
>Social Security) would support the Bindner proposal for diverting a portion of 
>the FICA tax to ESOPs. nbsp;The "retirement security" movement/lobby is far 
>too strong these days to permit that. gt; 
>--------------------------------------------------------------------------------MSN
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