Re: HOMESTEAD: Latest revision of the Homestead Summary

[John Médaille <john@medaille.com>]

At 04:15 PM 4/19/01 -0400, Deborah Groban Olson wrote:
>Dear John:
>
>         I, for one, think privatization of social security is a 
> completely misdirected idea. Social Security is a transfer payment system 
> between generations. It was never meant to be an arrangement where 
> individuals have individual investment accounts. This concept is obscured 
> by politicians for political convenience. But in our discussions we 
> should not get caught up in this misconception.

I don't disagree that SS is an inter-generational transfer payment. 
However, wider ownership can reduce the need for, or at least the scale of, 
such payments.


John C. Médaille

"A dead thing can go with the stream...
but only a living thing can go against it."
         -G. K. Chesterton
http://www.medaille.com/distributivism.htm
john@medaille.com