View Single Post
  #6  
Old 12-13-2011, 12:21 PM
TwinSwords TwinSwords is offline
 
Join Date: Dec 2006
Location: Heartland Conservative
Posts: 4,933
Default Re: Cylons and Voltron and Zombies! Oh My!

Quote:
Originally Posted by Diane1976 View Post
I haven't watched yet, but on Gingrich and Obama's health care plan, I saw three of the Republican debates and in two of them Gingrich was pushing the Chile pension plan.
At the time that Bush was pushing something similar to the Chile plan, there was reporting, including in the New York Times, indicating that the overhead costs were no less than 25% and reach as high as 40%. This goes for things like commissions to the private investment bankers who would manage the funds.

You can see why the private schemes appeal so much to politicians who are in thrall to the banks and other monied interests: They will get rich skimming off the top. And, of course, relative to a public model, the skimming is a wealth transfer program, taking 25% to 40% of the money people pay in and giving it to the wealthiest people in New York City.

Social Security, as I understand, spends less than 1% on administrative overhead, and the overhead does not go the line the pockets of bankers.
__________________
"All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind." -- Adam Smith

Last edited by TwinSwords; 12-13-2011 at 12:24 PM..
Reply With Quote