Greg Palast: Bush tells Party He'll Invade Social Security Fund

[demnan]

Of all the bone-headed, whacky, breathtakingly threatening schemes George W. Bush is trying to sell us in his acceptance speech tonight is something he and his handlers call, "the Ownership Society." Sounds cool, "ownership." Everyone gets a piece of the action. Everyone's a winner as the economy zooms. All boats rise.

Sure. Behind the hooray-for-free-enterprise crapola is that dog-eared game-plan to siphon off Social Security revenues to pay for making Bush's tax cuts for the rich permanent.

Here's what the President has in mind. Social Security is an insurance plan. You pay in, you get back. But it's hard to get your money back when there's a war where the Clinton surplus used to be. It's not the war on terror, or the war in Iraq, though Lord knows those have cost us a bundle with nothing to show for all the lost loot. I'm talking about the class war that Dubya and his Dick Cheney have waged on the average working person.

We're talking an economic Pearl Harbor here. While firemen and policemen went running into falling buildings, the Bushmen were preparing to relieve some gazillionaires, such as say, the Bush family, of the need to pay the taxes that the rest of us pay. Work as a teacher, you pay Social Security and income taxes on every darn penny. Sit on your yacht and speculate in the stock market casino and you are off the hook on taxes on the "capital gains."

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More: http://www.gregpalast.com/

[zeemike]

1. this ownership society

Reminds me of that commercial where the guy says "I own Motorola" (because he has stock in the company) That of course is bullshit the only thing he owns is a piece of paper.
But this is a grand scheme to dump huge amounts of money from the SS fund into the stock market, and ass the prices rise the ones in the know can skim off the profits for themselves.
It is just another way to steal from the treasury.