cdude1034 on 10 November 2008
| mrstickball said: Regardless of what you want to say, FDR did institute communistic/socialistic programs thanks to the New Deal and Second New Deal. Social Security is, and was, a major erosion of peoples' rights in favor of government control over our income. And however you want to argue about Social Security, know this: As a worker under Social Security, you will not make back whatever you put into it after adding inflation. Interest in SS accrues at 2% per year. That's in total opposition to any other retirement system available - Even a bank offers higher interest rates via Money Markets and CD's than what Social Security does. If you are a government worker, their pension plan nets you above 10% per year in returns - well above inflation. Even if you can argue for a voluntary retirement savings, there's still absolutely no reason why the Government has to run it, and run it so poorly. |
I will completely agree with the fact that SS has completely run it's course and it's time for us to take control of our own retirement money.
At the time however, the country needed the financial security that FDR provided many people through his programs. You can argue whether or not it was communist/socialist, but the bottom line is that he did what was necesarry at the time and it worked.
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