Understanding The Neoliberal Desire To Privatize Social Security

Описание: Author James W. Russell explains how former President George W. Bush wanted to privatize social security given the conservative efforts to get more money into Wall Street as well as former President Barack Obama’s efforts to remove the cost of living adjustment. Russell and the Majority Report crew discuss annuity and how 401ks function.

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Image Credit, The U.S. Army
https://www.flickr.com/photos/soldier...
https://creativecommons.org/publicdom...
Image has been cropped and color has been altered.

Image Credit, The U.S. Army
https://www.flickr.com/photos/soldier...
https://creativecommons.org/publicdom...
Image has been cropped and color has been altered.

Sam Seder: in 2005 um shortly after his re-election George bush wanted to privatize parts of social security essentially and that is what I mean that that's what the big game was, right? Like wall street wanted that what they called that dumb money because they because dumb money is money who nobody's really looking after that much and they want to take a piece of it.

James W. Russell: Yeah, before I address that directly there's a third player in this which is very important which are the conservative think tanks, the heritage foundation, the Cato institute, all of which are heavily in favor of getting money out of social security and into the wall street investments...