Thursday, February 07, 2013

Dramatically Politicized Class Confict

The Republican party wants major "reforms" to the Social Security system, by which they mean some sort of benefit cuts.  They would also like to see it "privatized" which would allow the social security trust fund to come under the financial management of Wall Street.  Both plans would advance the economic interests of the 1%, who control the dominant finance capital of the world economy.

This article by Duncan Black is about the real problem in our retirement system.  Elder poverty is going to be rising in the future, because there is not enough money in the 401K system for the people now retiring.

There is a class conflict: should our national wealth be used to provide a decent retirement for the working class and middle class?  Our should our national wealth continue to be concentrated in the hands of the absurdly and obscenely wealthy 1%?  One party, the GOP, emphatically favors the latter.  The other party, the Dems, tentatively favors the former.

How does the theological traditions and values of liberal religion apply?

We "stand on the side of love".  The opposite of love is not hate, but indifference.  Our present retirement system gave some tax advantages to saving for one's retirement, but is indifferent to the actual results.  The system is indifferent to whether your income and expenses were not sufficient to save much.  It is indifferent to whether your investments happen to tank right before you retired.  It is a system of institutionalized indifference to the economic security of the elderly.  That indifference is the policy of one party, and potentially not the policy of the other.

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