Good old democrats.
“Fighting the power, whatever it may be doing”
Do ya ‘spose all those rich Dems don’t know what an “annuity” is, which was mentioned not only in point three but also in point two?
I allus thought that word had an investment in it somewhere that paid out a regular dividend and hopefully leaves the principal grown or at least undiminished.
Doesn’t sound like the Ponzi scheme we have now, where the ‘fund’ is raided for vote buying. I wonder if the Dems will ever require us all to wear gas masks with meters so they can tax the air we breathe, or maybe pick the gold and silver out of our teeth when we die to “save the environment” from heavy metals? A pox on them.
Good old democrats.
I’d be thinking more along the lines of God damned Democrats!
Your case is not rested. In fact, you don’t even seem to understand what FDR was even referring to.
FDR proposed three items for Social Security in his message to Congress. 1) An old-age pension plan which would provide immediate payments to those too old to have contributed to Social Security, with funding provided by the general fund and the states. 2) A compulsory annuity system which would support itself by means of its own trust fund. This is what we know today as “Social Security.” 3) A voluntary annuity system which would allow persons to contrubute additional funds on top of their compulsory funds, and would be held by the federal government. Only the latter item was not enacted. Even if it had been, it would not have affected the compulsory accounts in any way, unlike Bush’s plan, which allows for diversion into private accounts.
FDR proposed phasing out the old-age pension plan and “supplanting” it with the compulsory system, which is exactly what we did several decades later. The system we have today is by and large what he proposed. FDR was not a supporter of private accounts, and the statement he made to Congress on January 17, 1935, does not conflict whatsoever with that fact.
From the sublime to the ridiculous; hearing Harry Reid, of Nevada, suggest that the President’s plan to allow investment in Wall Street would be the same as “gambling”. I’ll wage my dollars in stocks, but generally drive straight through Nevada without ever spending a quarter in a slot!