Saturday, September 17, 2011

Rick Perry – Just another RINO?

So let’s go with his instinct and ignore his cowardice. . .

"We will fix the Social Security system so it will be there for our young workers..."

--Rick Perry speaking to the Iowa Credit Union League on 9/16 in Des Moines, Iowa.

This is essentially a major retraction on his “Ponzi scheme” remark at the debate last week.  The USA Today poll said 32% of the people wouldn’t vote for him because of his “Ponzi” characterization so like the politician he is he joined the Democrats and Republicans like Romney to “repair” the un-repairable rather than replace the system with private investment accounts like 15 countries have done following the lead of Chile and the advice of supply-side economist Milton Friedman.

Listen folks the only repairs on the table are a combination of raising the retirement age, means testing and reducing the rate of automatic increases in benefits.  Each is a MAJOR BENEFIT CUT and TAX INCREASE.

America what are you thinking? Are we socialists or capitalists?

In Chile which has been accumulating personal wealth for its citizens in personal investment accounts for 30 years lets 55 year-olds access special computers to decide whether to retire and what insurance annuity they want to buy with their accumulated nest egg. Our politicians are about to raise our retirement age to 75.

The American system Perry wants to fix has no nest egg accumulated for its workers. So he is just another mathematically-challenged RINO in my opinion. I pray that Sarah Palin enters the race and advocates privatization of the system like we thought Perry would do.


Chile followed the advice of Milton Freidman’s Chicago school of economics and is presently running a 7% a year increase in GDP. And what are we running – 0%. If we ran a 7% increase our GDP would skyrocket with the addition of $1 trillion of sales and services each year. That would mean that on each day of the year including Saturdays and Sundays there would be an increase in the sales of goods and services of $2.74 billion dollars we didn’t have the day before.

Now think about this. How many jobs would be created to service an increase of sales and services of $2.74 billion dollars a day? Assuming $50,000 of sales per employee then we would add 54,800 new jobs every day 24/7 or 20 million jobs annually. Assuming $100,000 of sales per job we still would be adding 10 million jobs.

In other words privatizing Social Security in Chile was a massive job creator.



My Rise Up America plan needs to be considered nationally. It does for the poor and middle-class what “trickle down” did for the rich and as a kicker creates millions upon millions of jobs immediately. Forget that it will create a $4 million nest egg and a $33,000 monthly retirement check for the average household in the future think about saving our economy today.

Only new investment capital creates new jobs in the private sector.  Why should we have to rely on the rich to supply that capital when the people – remember those of, by and for the people – can surely invest their payroll taxes in the economy and create their own jobs.

Can we get out of the sandbox and go back to class?

Can’t we measure up to Chile.

Come on! Let’s roll!

Dick McDonald
September 19, 2011

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