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Opinari - Latin term for Opinion. Opinari.net is just what it seems: a cornucopia of rants, raves and poignant soliloquy.

Monday, January 31, 2005

Douglas Kern on the prospect of private Social Security investment accounts:

We have devised campaigns to make people drink crappy beer, eat awful food, sign up to die in foreign lands, and vote for Jimmy Carter. By God, if we can make dumb America enjoy professional wrestling, we can find a way to make dumb America like responsible investing. The sky's the limit: catchy slogans ('The Freshmaker -- Mentos Brand Debentures!"), celebrity endorsements ("Can you smell the interest that The Rock's CDs are earning?"), infomercials ("Gosh, Cher, my rate of return really is increasing!"), giveaways ("Select the Freedom Index 500 fund today, and receive this thirteen-piece knife set absolutely free!) -- you name it.

Right on. At some point, Americans have to concede that responsibility is essential to a free, productive society, and they have to allow others to take that responsibility. I, for one, am tired of being lumped into the "dumb" American category. I want the right to invest my money into something that will actually yield a return. As Mr. Kern rightfully says:

No investment could be worse than the investment we are all compelled to make into Social Security as it is. Just think: even as your money earns a negligible rate of return, it underwrites the wildly irresponsible spending of the federal government! And what's more, you may never see that money at all! Any private investment choice is better than this mess. It's better to moron-proof Social Security than to keep pumping our money into an archaic system of "savings" that no country in the world would recreate if given the means to do so. Indeed, in a system of free choice, the only person who would invest in today's Social Security system would be -- a moron. Who needs more proof?

It's all about choice, and taking responsibility for one's choices. That's all I ask for myself and my family.


.: posted by Dave 12:18 AM

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