And good on him for it because it’s not an easy political position to have.
Washington – The Club for Growth praised John McCain for his support of personal savings accounts for Social Security even in the face of a fresh deluge of criticism from the Left.
A long-time supporter of personal savings accounts, McCain was attacked anew by the liberal media for reiterating his support in a Wall Street Journal interview for the kind of market-based reforms that will give workers a greater return on their Social Security taxes and relieve them from the ball and chain of government dependence.
This issue gets demagogued a lot, but really all private Social Security accounts are is a way to keep politicians from raiding SSN funds. If we citizens are to be forced by law to save for our golden years through the machinations of an expensive bureaucracy the least the politicians could do is put our funds in accounts so they aren’t diverted to other projects.
Is not the point of Social Security to provide us with a “safety net” made of our own payroll contributions for our later years? And if that’s true, why not keep our contributions unique to each individual citizen so that they aren’t used for something else?
There’s no good reason not to, except that it would mean politicians would have to keep their sticky fingers out of the money pot. But that’s not a very good reason at all.
