Friday, August 13, 2004


I've been deeply troubled by Bush's new ad emphasizing ownership, but couldn't put my finger on why. Leave it to Paul Krugman to nail it.

Basically, Krugman says the ad seems to be saying that workers don't have as much of a stake in the country's future as property owners, and this would fit right in with other Bush policies that favor the very, very wealthy over the rest of us. Bush seems to be moving toward a system where wages are taxed, but investment income is not. And since the bulk of investment income goes to a small elite, guess who gets screwed?

Krugman also takes on the ridiculous notion of making Social Security private. What's always annoyed me about SS is that people think its a personal savings plan for their retirement, when actually its a system whereby the current working generation pays for the retirement of the previous generation.

Anyway, good column today -- read it.


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