Wednesday, February 16, 2005

Hypocrisy in the Social Security debates

From Pete Du Pont's WSJ editorial:
AARP opposes individual Social Security investment accounts, running advertisements saying they are "insecure" and characterizing them as "gambling." So market accounts are sound for their 35 million members but not for the 154 million who pay Social Security taxes?

The AFL-CIO's Web site argues that "the stock market is too unstable" to allow working people to have Social Security market accounts, and the American Federation of State, County and Municipal Employees opposes such "risky investment accounts." Yet both organizations' employees can participate in exactly such retirement investments. Why is it all right for them and too risky for other Americans?
Read the whole thing here.


Adam Scavone said...

how bout NOW's position on social security for the ULTIMATE in hypocrisy? pro-choice for a woman's right to dispose of fetuses but anti-choice for a woman's right to dispose of the products of her intellect and/or labor...

Hillary? Comments?

Anonymous said...

Well ordinary women are just too stupid to handle decisions about how to use birth control equipment, about how to spend/save/invest their own wages and earnings, and about how to contribute to my campaign debts, my campaign funds, my legal bills, this mortgage thing on my houses in the states where I claim residencies, and my husband's phone-sex phone bills. What most women need is a masterful government-brain-in-a-pantsuit such as ME to do their petty thinking for them. So please vote for me. If you don't vote for me I will get very VERY V_E_R_Y_ VxxExxRxxYxx V>E>R>Y> VVVEEERRRYYY F*CKING ANGRY AT YOU.
Political Season's Greetings To You
Your Senator
Hillary Rodham Clinton

N.O.W. is so t.h.e.n. said...

How about James Glassman on the hypocrisy of AARP's position:

AARP Services, Inc., the lucrative business arm of the AARP, entered into a deal with Scudder Investments to sell mutual funds to its members as part of a special affinity program. According to a prospectus, Scudder pays AARP an annual fee for the use of its trademark that ranges from .05 percent to .07 percent of assets. That can come to a lot of money. One fund alone, Scudder Growth & Income AARP, manages $5 billion.

The hypocrisy is breathtaking. AARP’s website carries solid information about how to invest wisely, but the organization’s anti-Social Security ads make investing - even under the tough restrictions advocated by reformers -- look like a game for dumb suckers and out-of-control gamblers.

AARP is using an old strategy: trying to scare the wits out of old people. The organization’s executives want its members to think that Social Security will be destroyed by offering young people the option of personal accounts.

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