Blocking Move

Chait, Jonathan
March 2005
New Republic;3/21/2005, Vol. 232 Issue 10, p18
Offers a criticism of United States President George W. Bush's plan to privatize Social Security. Question of whether Social Security should be a guarantee for retirees, widows and disabled workers or if it should be replaced with a system in which everybody takes care of themselves; Claim that private personal accounts are conservatives' way of getting rid of Social Security; Reference to the book "Social Security: The Inherent Contradiction," by Peter Ferrara; Reference to the book "A New Deal for Social Security," by Ferrara and Michael Tanner; Criticism of Bush's claim that private accounts would offer a better rate of return than the Social Security system; Statement that Social Security was not intended as a personal retirement plan, but as a form of social insurance to spread risks throughout the population; Claim that individual accounts do not provide security against various risks; Statement that because workers face higher risk in the economy, social insurance that eliminates risk makes more sense.


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