1/24/2005

Framing Social Security

Steve Soto links to linguist George Lakoff's take on Bush's inagural address. Lakoff also has some sage words to say about framing Social Security:

Democrats must come up with a set of values to explain why they feel that, say, Americans shouldn't be able to invest their Social Security funds in the stock market, Lakoff said. And the rhetorical battle will probably come back to the concept of "freedom."

"When Republicans talk about Social Security, they talk about freedom," Lakoff said. " 'You can invest your money better than the government can.' "The Democrats respond by giving all the facts and figures," he said. "None of them say, 'This is an issue about whether we're going to have a guaranteed annuity for everyone in our family, the American family, or whether you're on your own, buddy.' "Rather, they argue the details," Lakoff said. "As soon as progressives argue the details, conservatives come back and argue their own details, and nobody knows the difference. And as soon as you get into the technical details, the liberals lose. Because the other guys are arguing values." (emphasis mine)

I've been guilty of this myself, so from now on I'll always try to note the most imporant thing about Social Security: it is a guaranteed annuity. There's no guess-work or gambling on how long you'll live, or how well your investments will do. As long as you're kicking, Social Security will be there for you.

2 Comments:

At 1:09 PM, Anonymous Anonymous said...

" most imporant thing about Social Security: it is a guaranteed annuity. There's no guess-work or gambling on how long you'll live, or how well your investments will do."

LOL! (hell, I coughed Sprite through my nose!)

You do that lil' fella.

And we'll remind people that if they took that same 12% a year and invested it in nothing more risky than a friggin' pass-book savings account they'd end up with one hell of a lot bigger "annuity", guaranteed by the same government they are hanging their hopes on today.

And for those who just want daddy to hold their hands, are too incompetant to handle their own finances or just don't want any interest I'd be happy to open savings accounts for them..and use their interests to pay the fees for trading my mutual funds.

 
At 7:59 PM, Blogger Luke Francl said...

I think you're missing the point. Social Security Insurance pays out as long as you are alive.

Personal investments don't. Ideally, you want to die with $0, having spent all your earthly wealth before you die and can't use it anymore. But that means you need to estimate how long you're going to be alive in order to figure out how much money to spend each year in your retirement.

What happens if you guess wrong and you run out of money?

You're screwed.

 

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