George Will, Newsweek Feb. 14, 2005 Issue
George Will was one of my favorite pundits. Over the last 3 or 4 years he has shown a subtle but perceptible shift leftward, so my interest in his views has waned. I may have to start reading him again.
This column is about Social Security repair and W's State of the Union Address, in which he not so subtly reminded our federal legislators that all civilian federal employees may particapate in a plan very similar to his proposed changes:
"Begun in 1987, the Thrift Savings Plan, which as of December 2004 had assets of $152 billion, is a retirement-savings plan open to all civilian federal employees, including senators, and all members of the uniformed services.
They can invest as much as 14 percent of their salaries in one of five retirement funds. Consider the rate of return of C Fund, one of the five. It is a common-stock fund, so it should represent the risks that Reid thinks should terrify Americans:
In only four of 17 years has the rate of return been negative. But in 11 years the rate has been greater than 10 percent, in eight years it has been greater than 20 percent, in four years it has been greater than 30 percent. The compound annual rate of return for the last 10 years has been 12 percent, and the return over the 17 years has been 12.1 percent.
Reid participates in the plan, but opposes allowing all Americans the comparable opportunity that Bush is proposing. But if the numbers just cited are the result of roulette, the legislators should let the rest of us into the game in which they are prospering."
Game, Set and Match in my opinion! Harry Reid and the "federal elites" do not want us to have the perks they enjoy!
Another memorable quote regarding Howard Dean:
"Last week Howard Dean, almost certainly the next Democratic Party chairman, said: "I hate Republicans and everything they stand for." Either Dean means what he says, in which case he is as unhinged as the rest of the party's Michael Moore caucus, or he does not, in which case he is a blowhard like, well, Moore."
It is fun to watch the Democratic Party implode!
This column is about Social Security repair and W's State of the Union Address, in which he not so subtly reminded our federal legislators that all civilian federal employees may particapate in a plan very similar to his proposed changes:
"Begun in 1987, the Thrift Savings Plan, which as of December 2004 had assets of $152 billion, is a retirement-savings plan open to all civilian federal employees, including senators, and all members of the uniformed services.
They can invest as much as 14 percent of their salaries in one of five retirement funds. Consider the rate of return of C Fund, one of the five. It is a common-stock fund, so it should represent the risks that Reid thinks should terrify Americans:
In only four of 17 years has the rate of return been negative. But in 11 years the rate has been greater than 10 percent, in eight years it has been greater than 20 percent, in four years it has been greater than 30 percent. The compound annual rate of return for the last 10 years has been 12 percent, and the return over the 17 years has been 12.1 percent.
Reid participates in the plan, but opposes allowing all Americans the comparable opportunity that Bush is proposing. But if the numbers just cited are the result of roulette, the legislators should let the rest of us into the game in which they are prospering."
Game, Set and Match in my opinion! Harry Reid and the "federal elites" do not want us to have the perks they enjoy!
Another memorable quote regarding Howard Dean:
"Last week Howard Dean, almost certainly the next Democratic Party chairman, said: "I hate Republicans and everything they stand for." Either Dean means what he says, in which case he is as unhinged as the rest of the party's Michael Moore caucus, or he does not, in which case he is a blowhard like, well, Moore."
It is fun to watch the Democratic Party implode!
posted by Jim | 10:18 AM
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