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[Rebecca Lewinski <rebas_own AT hotmail.com>]

Cathy writes:
> I'm not familiar with The Carolina Journal, either.  Judging only on its
> choice of the word "confiscating," I'm guessing it slants pretty hard to the
> right.  While it may soon seem attractive to many Americans to convert their
> private retirement savings to some SS-based plan, I don't think it's any
> more accurate to say that Democrat leaders are going to confiscate 401(k)s
> than it was to say that John McCain would have put everyone's SS into the
> stock market.

Hmmm.... The Carolina Journal is the monthly voice of a right-wing think 
tank, the John Locke Foundation.  The think tank's focus is the free market, 
so I can see why this talk of moving 401ks under the government's wing would 
upset them.  I personally can't see the move happening, in spite of so many 
people right now reeling from watching their 401Ks evaporate last month.  
I'll have to read up on how this talk started--it sounds to me like the 
people quoted are looking for a way to guarantee that workers have some 
additional income to retire on, along with what they will get from social 
security.  Can you imagine what a disaster it would have been if people had 
been allowed to put their social security funds in the market?  I know I'm 
not smart enough to play the market, and apparently recent economic events 
shows a lot of paid professionals aren't smart enough either.

interesting stuff.  Thanks to bob for bringing it to the list.

-Rebecca in the great Northwest

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