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Stock prices have already risen for several firms in anticipation of getting their hands into the pockets of American citizens. The other “solution†is to have private plans. But privatization of pension plans is a bad idea that has already proven to be a disaster wherever it has been tried! Britain tried privatization, which caused “savers†to get raped by "handling fees" of as much as 30%...
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But privatization of pension plans is a bad idea that has already proven to be a disaster wherever it has been tried! Britain tried privatization, which caused “savers†to get raped by "handling fees" of as much as 30%. In 1984, Maggie Thatcher used arguments similar to those Bush has used to push through privatization of Britain's old-age pension scheme, a plan similar to our Social Security...
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