I am a member of the Baby Boom generation, so I don't hold out a lot of hope for coasting through my golden years on Social Security. No real complaints, though. It was a good idea when it was launched in the 1930s, and it has largely accomplished what its designers intended.
I like the idea that the government can encourage Americans to save for their retirement, and I certainly recognize that monies put into an index fund of stocks will yield much better returns than we can achieve with Social Security over 15 or 25 or 50 years. In short, private savings accounts to supplement Social Security are a good idea.
Now here is my problem: why does President Bush insist that the money for the private savings accounts has to come from the workers' pool of Social Security taxes? Why can't we just extend the limits of the IRA savings accounts?
How does it "save" Social Security to pull money out of the system?
Money is fungible - though there are distinctions beween pre-tax and post-tax dollars, I know. Nevertheless it does matter which fund or pool of money is designated as a source of the "private savings" account. As a political matter, what purpose is served by drawing from the Social Security pool instead of "cutting taxes" by using pre-tax, non-SocSec monies to fund this aspect of the Ownership society?
Looks to me like the President is just poking a stick in the eye of the Dems and inviting a fight on confusing ground.
So help me out here. Where am I wrong?
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¶ 15:34 (0)comments
"The US military has arrived and is clearly establishing its presence everywhere in Banda Aceh. They completely have taken over the military hospital, which was a mess until yesterday but is now completely up and running. They brought big stocks of medicines, materials for the operation room, teams of doctors, water and food. Most of the patients who were lying in the hospital untreated for a week have undergone medical treatment by the US teams by this
afternoon. US military have unloaded lots of heavy vehicles and organize the logistics with Indonesian military near the airport. A big camp is being set up at a major square in the town. Huge generators are ready to provide electricity. US helicopters fly to places which haven't been reached for the whole week and drop food. The impression it makes on the people is also highly positive; finally something happens in the city of Banda Aceh and finally it seems some people are in control and are doing something. No talking but action. European countries are until now invisible on the ground. IOM staff (note: this is a USAID-funded organization) is very busy briefing the incoming Americans and Australians about the situation.The US, Australia, Singapore and the Indonesian military have started a 'Coalition Co-ordination Centre' in Medan to organize all the incoming and outgoing military flights with aid. A sub-centre is established in Banda Aceh."
Isn't that nice? Europeans with a sense of reality.
The only fault The Diplomad can find with the Dutch report is that it understates the role of the Australians in the relief effort -- they deserve considerably more credit than this report gives them. It's hard to praise the Aussies too much for what they have done in the wake of the tsunami. They are absolutely splendid -- too bad they've got that thing about that weird game, uh, cricket, is it?
Go to the main site and read down to the post on how the UN is more concerned with getting 24-hour catering service in their five-star hotel than with actually helping anyone hit by the tsunami.
¶ 14:51 (0)comments
Are we still through?
My phone still ain't ringing.
So I assume it still ain't you.
Country music remains the king of clever lyrics. I love it. God help me, I do love it so.
¶ 14:03 (0)comments
