Saturday, December 01, 2007

New Deal is Raw Deal

Social Security was one of the programs of Franklin Roosevelt’s “New Deal” in the 1930s, during the Great Depression. Average people didn’t have access to capital markets or retirement accounts. Things have changed. Anyone can save and invest in stocks, bonds, treasury notes and many of these accounts can be opened with $50. The other thing that has changed is that the Federal government has screwed up social security. There is no social security for anyone still working today. Its bankrupt, and when you and I go ask for our checks they are going to bounce. Social security’s time has come and gone. I want a refund, and I want out. I demand that individuals be allowed to self-direct their retirement—in 401ks, IRAs, or individual trusts—and that money is solely and entirely for my benefit and so should you.

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