CBS Marketwatch: “The surprising thing about the private investment accounts proposed as a Social Security reform and considered a hallmark of an ownership society is that they’ll likely leave account owners with little direct control. Workers will be offered few investment choices, won’t be able to access the money until retirement, and some will be forced to annuitize their account funds when they retire, according to details released by the Bush administration on Thursday. Plus, the opportunity to re-allocate money among the different fund options will likely be limited to one or two times per year.”
Source link: http://blog.mises.org/3103/the-meltdown-of-faux-privatization-continues/
The meltdown of faux-privatization continues
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You “own” it, but there will be rules. Lots of rules.
More like government is saying:
“You may own money, but prepare for arbitrary legislative reminders of who owns you.”
Even worse, money owns government, defines its very existence. By attempting to control that which controls it, government transfers aggression toward those it identifies as being able to control money. Government needs to feel that its citizens are controlled, for government needs to feel at least proxy control over its mammon master.
As for methods of control: the hive mind of the public sector guarantees spite for any individual who chooses to walk an individual path. Artists and other innovators suffocate under the armpit of socialist reforms.
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