A remarkable Republican rant
Just when you think that maybe you've been unfair to characterize Wisconsin Republicans as uncaring Neanderthals, along comes Gary Arneson, chair of the Republican Party in the 3rd Congressional District, represented by Democrat Ron Kind.
Arneson, the Tomah Journal reports, had this to say on Kind observing the 70th anniversary of Social Security:
"Ron Kind can celebrate the Socialist Ponzi scheme, house of cards, band-aid of the great depression if he wants to but now it's a tourniquet on our future. If it works, why is he pushing 401k's to supplement Social Security? It's because of the paltry 1.9 percent return on your investment. He wants you to continue to pay your FICA taxes into a system that everyone knows is going bust and then save for retirement again with a 401k plan. Kind is a tax and spend liberal who wants to keep FICA taxes going to Washington so he can spend it and keep people dependent on government."
Thanks for sharing.
posted by xoff @ 8:31 AM
2 comments
2 Comments:
What did he say that was factually incorrect? Should he have said, "and this doesn't mean I want our elderly to eat dogfood"? Which of course they wouldn't have to do if all that money they had removed from their paycheck had been invested in simple index funds like so many people's 401K, IRA and profit sharing plans.
No kidding. Actuarial study is now a Neanderthal behavior. It is a ponzy scheme and it is a lousy return relative to the investment. Facts suck and may be unpleasant but that does not invalidate them.
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