WOW! Look at the article on the DLC website about Social Security privatization!

[antigop]

http://www.dlc.org/ndol_ci.cfm?kaid=125&subid=165&contentid=1307

>>
Personal accounts would refashion Social Security from a system of wealth transfer into one that also promotes individual wealth creation and broader ownership. Workers would own their accounts and could pass on any assets they didn't use to their heirs. This approach would address a prime source of economic inequality in old age: relatively low savings among poor minority families. According to Rand Corporation economist Jim Smith, the median black or Hispanic older household has no financial wealth at all, making those households utterly dependent on Social Security. Indeed, most economists believe that Social Security's progressive benefit structure dampens low-income workers' incentive to save.
>>

[leftchick]

1. I can see Grover Norquist now

this is his wet dream. Why are these people considered democratic?

[antigop]

2. Look at the last paragraph:

>>
The grand bargain sketched here would renegotiate, not abandon, the social compact implicit in Social Security. It would offer working Americans new opportunities to build personal wealth while asking them to take greater responsibility for their retirement security. It would convert Social Security from an entitlement based on the false promise that everyone can consume more than they produce to a system that promotes savings, investment, and greater economic self-reliance. And it would embody a new approach to governing based on a key New Democrat insight: That in the Information Age, government's role is not to take care of us, but to give us the tools we need to take care of ourselves and each other.
>>

[Cleita]

3. OMG! They get their information from the Rand Corporation?

That company is one step left of the Heritage Foundation and not even as moderate as what a moderate conservative is. What dampens low-income workers' incentive to save is low income!

[KoKo]

42. AND...you can only get 1 or 2% from Savings Accts these days and have to

pay taxes on that! This is so disgusting. When are we going to be able to wrest the party from the clutches of the DLC...

[Faygo Kid]

4. Yeah, except the article is from 1999. Our one victory over Bush.

The one big victory we have over Bush is stopping his push to privatize (destroy) Social Security. Private accounts in addition to Social Security is great, but not in place of it. The DLC sucks, we all know that, but I can't judge this article from the Clinton presidency.

[antigop]

7. The article may be from 1999, but it's on the DLC website. n/t

[bunkerbuster1]

40. Even an old article like this doesn't belong on any site calling itself "Democratic"

as the other poster said, beating Bush like a yard dog on "piratization" was a major victory at the time, when we really needed one.

Only a self-loathing organization like the Democrat Losership Council would feel otherwise.

[Bitwit1234]

5. I guess Wall street brokers are now lobbying democrats

The only people who will make money with these accounts will BE the Wall Street Brokers. Look at the almost 500 or more drop in the market the last couple of weeks. Do you think the small money accounts of retirees could sustain that. My son had a 401K when he worked for Sears and they invested the money in THEIR stock. Since he had only been in in a year, and only had a couple of thousand invested, when the market dropped in 1990 or so he lost 500 dollars in one week and it never did go back up.

[Baby Snooks]

8. Quite a few are funding the Democrats...

Wall Street has turned purple, if not blue, this election cycle. Maybe this explains why?

[creeksneakers2]

25. Health care costs are killing big corporations

They go Dem when they think Dems might contain health care costs.

[Baby Snooks]

31. Must be nice...

Must be nice to have an employer that pays for health insurance for their employees. Most don't.

I suspect what Wall Street is backing is simply continued guaranteed profit for the health care industry which of course is tied to escalating health care costs including health insurance.

[KoKo]

47. ...

[sarcasmo]

22. Looks like my Theory of all Politicians being Corporate WHORES may ring true.

I will exclude Bernie Sanders from my broad brush.

[antigop]

23. This article is on the DLC website. n/t

[bvar22]

27. Bernie fan here, but you missed....

”Unlike other candidates, I am not funded by those corporate interests.
I owe them no loyalty, and they have no influence over me or my policies.” ---Dennis Kucinich

[sarcasmo]

45. That's two on the list,. Lobbyist should not exist.

Kuicinich and Sanders are keepers, but the jury is still out on the rest of them.

[PSPS]

6. Amazing, isn't it?

They say "the median black or Hispanic older household has no financial wealth at all" and blame it on "Social Security's progressive benefit structure" rather than the fact that these households are relegated to an economic underclass where they can't afford to save.

Well, that's the kind of thinking you get out of Rand. Privatizing Social Security certainly won't "magically" put extra money into the pockets of low-wage workers who live from check to check and have nothing left to "save."

[antigop]

9. Do you find it amazing that it's on the DLC website? n/t

[angstlessk]

12. But it WOULD transfer money OUT of Social Security into the pockets

of Wall Street! :grr:

[Cleita]

17. That's what they want and it works so well too.

:sarcasm:

Britain had a system where those Brits who wanted to opted for the privatized system. When they retired their money more often than not went poof. The Brits suddenly found themselves with all those senior pensioners in dire poverty and their younger families forced to take them in and support them. Yes, we should always try failed plans over and over and over again.

[lostnotforgotten]

10. And You Wonder Why We Are Anti DLC Here?

eom

[antigop]

14. No, I wonder why anyone on DU would support a DLC candidate. n/t

[lostnotforgotten]

18. Will Never Support / Vote For Hillary - True Blue DLCer

eom

[Lydia Leftcoast]

11. I've done the math--privatization would leave poor people worse off--

as they're finding out in Chile now, which was supposed to be the glorious test case for Milton Friedmans' notion of a totally privatized pension system.

[Ripley]

38. And the Chileans have spoken..

I remember reading about the Socialist Michelle Bachelet who was elected a year ago in Chile. A FEMALE and she ran against a billionaire. The people have soundly rejected the "American Experiment." Hmm, I wonder what the weather is like there?

[izzie]

13. Trying to keep Wall Street out of SS is like me trying to stay away

from fudge. It is just one of those things where you can not help your self. You can almost see Wall Street foam at the mouth just thinking about all that money. Let see now. The military is sort of private, highways, some parks, and as always we shall work on the water. That will be better than SS. God help us all to have a large Corp. running all this stuff.

[Demeter]

20. Did You Have to Mention Fudge?

Going off to kitchen to satisfy chocolate cravings....

[izzie]

36. Demeter and Issie is to fudge as Wall Street is to ------------?

I gave up fudge but not the thought.

[Demeter]

37. And I Put Sanders Bittersweet on Ice Cream with Pecans

It made up for a terrible hard week.

[izzie]

39. Over 70 and my system can not eat any thing with milk

Some thing new every day. Where did this come from any how? I am not sure I wish to stick around once I have ro give up coffee ice cream and milk choc.

[acmavm]

15. ??Was the DLC separated at birth from the RNC???

[Cleita]

19. They are corporatists.

I don't know if they came into the Democratic Party to be a Trojan horse for the Republicans or if they were disgusted with how far right the Republicans have gone and needed another party to operate in. If they are the latter, I really wish they would just form a new conservative party. I think the majority of rank and file Republicans would join them leaving the neo-con wing of the GOP as the small in number, wacko fascists that they are.

[bvar22]

46. Never separated at all.

They are still Conjoined Twins.
They are joined at the wallet.
Their ideas, policies, goals, attitudes, morality, arrogance, greed, and their financiers are exactly the same.

[rateyes]

16. The DLC looks more and more like the Republican party

every day. How to save Social Security: Take off the cap. Easy. And, it will work.

[Joanne98]

21. AHA! Good catch! K&R!

[MethuenProgressive]

24. It's 8 years old!! The "catch" is from 1999!

Anyway, the DLC has litle to do with today's party, most Dems seem to see it as th' Debbil.

[antigop]

32. OH, that is funny!

:rofl:

[Pachamama]

26. WTF????? Did someone mistakenly link the DLC to the RNC site???

:shrug:

[truedelphi]

28. ALthough I strongly oppose any attempt to re-fashion

Social Security along the lines of investing our SS Fund payments
by opening stock market accounts for us, I definitely like one of the ideas.

We should mandate that our government allow for an individual's SS payments to be made available to the heirs.

In the African American community, where individuals die long before the average age of Caucasians,
all too often SS becomes yet another set of payments for which the indiviual never receives a return.

[Gonzo Gardener]

29. DLC = Democratic Leaning Corporatists

[earth mom]

30. I'll say it-WE TOLD YOU SO ABOUT THE DLC. nt

[mistertrickster]

33. Yeah, those lazy poor people! Not saving their money! Using it for

groceries and heat, all the luxuries that they should just do without!

DINO, MFers.

No quarter with these people. No compromise. Take them down and stand on their windpipes.

[Cha]

34. Imagine the dlc having this on their website NOW!

the dlc who supported bushit's war on Iraq and they want to privatize Social Security or why have it on their website? Is it another one of their oversites?

[JTFrog]

35. Fuck the DLC. n/t

[Moochy]

43. Hey that'd make a great Avatar!

:yoiks:

[Enrique]

41. the DLC caved to the real democrats on this

the first big sign of their waning influence. :toast:

[MasonJar]

44. Sounds vaguely like the plan W is espousing today.