”George W. Bush, Philosopher-King”

Monday, January 17th, 2005 at 9:11 pm | In Politics |

I’m still not sure what my own stance on social security privatization is, but this article from Slate.com (Jan. 17) does a good job of clarifying the issue and sifting out what the true reasoning is behind the positions of both Democrats and Republicans.

The article analyzes Bush’s comments on how privatization will save the system and shifts focus to the underlying argument:

Here’s what a straightforward discussion of the philosophy behind the Social Security system would look like: Democrats support welfare for old people, on the grounds that it creates a safety net for capitalism’s losers, who might otherwise live in poverty. Republicans oppose welfare for old people, on the grounds that it reduces incentives to work and save, it gives the government too much money to spend, and it makes people overly dependent on the government for their retirement. That’s an honest debate. Let’s have it.

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