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Source link: http://blog.mises.org/3088/its-not-private-its-a-loan/

It’s not private; it’s a loan

February 3, 2005 by

Just as you thought the SocSec “privatization” couldn’t get any worse, The Washington Post reports more grim truths: they won’t be private, they won’t be managed by individuals, and you won’t withdraw these funds at retirement. (Pointer from FEE). As for Bush’s promise of no tax increases, that depends on what the meaning of tax is….

{ 3 comments }

iceberg February 3, 2005 at 10:54 am

How can a non-voluntary system be called “privatized” if the private person sponsoring it has no say in the matter?

Mark D. Fulwiler February 3, 2005 at 2:51 pm

Welcome to 1984, 21 years late!

Ashish Hanwadikar February 4, 2005 at 9:32 am

Washington Post has since corrected the article to clarify that it will be not like a loan… See http://uppereastsider.blogspot.com/2005/02/distortions.html

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