Friday, June 10, 2011

She's BACK! And She's Not Alone...

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Will Sharrrrrrrrrrrrrrron ever really leave us? I guess not...

Especially since her crazy "ideas" continue to thrive in the Nevada Republican Party. Wait, who called Social Security a "pyramid scheme"? Oh, that's right! It was Joe Heck!

Congressman Heck appears to have settled, at least briefly, on the narrative that privatizing Social Security will save it for future generations. No it won’t — it will dismantle and eliminate it. The last time this privatization scheme was put forward the rationale was clear: “Privatization isn’t a plan to save Social Security. It is a plan to dismantle Social Security. Private accounts do nothing to address Social Security solvency. In fact, because private accounts are financed by taking money out of Social Security, privatization actually increases Social Security’s funding gap and moves forward the date of its insolvency from 2041 to 2030.“

There is a secondary myth associated with Social Security, that it constitutes a retirement plan in lieu of all others. Wrong again. Social Security is a social safety net program. If any individual wants to contribute to a private retirement account he or she is perfectly free to do so. There are numerous flavors of individual retirement accounts available from your broker of choice, and at least two major forms of IRA’s. The purpose of the Social Security program is to provide a minimum level of financial support to those who would otherwise slip into poverty in their later years.

Yet again, Joe Heck is offering nothing more than microwaved second helpings of Sharrontology crazy. Angle may not have won herself, but sadly her legacy lives on in the Nevada GOP.

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