i heard it was because big med lobbied against wall street.
anyway, im glad it didnt go through because it wouldve given the illusion that ss was private. and functionally, it wouldnt have made any difference overall because the SS tax wouldnt have been made lower (in fact, bush said he was willing to raise it) and because the things that could be invested in were limited to shit like TIPS and blue-chip stocks.
i think that the only true privatization of social security is repealing it and replacing it with nothing (although sound money and much lower income taxes would be necessary for people to not be broke in old age).
anyway, im glad it didnt go through because it wouldve given the illusion that ss was private. and functionally, it wouldnt have made any difference overall because the SS tax wouldnt have been made lower (in fact, bush said he was willing to raise it) and because the things that could be invested in were limited to shit like TIPS and blue-chip stocks.
i think that the only true privatization of social security is repealing it and replacing it with nothing (although sound money and much lower income taxes would be necessary for people to not be broke in old age).