The GOP and Social Security: Win-Win?

According to PowerLine, John Zogby says that "even if the President's proposal for individual accounts fails, the issue may nevertheless spark a long-term realignment in favor of the Republican Party." Now, this is the same John Zogby who infamously declared Kerry would win handily a few hours before he lost, so take it with a grain of salt. Still, I think he has a point here.

Zogby bases this conclusion not on the concept's popularity among young people, but on its appeal to the "investor class." He notes that in his pollling, those who described themselves as members of the investor class favored President Bush by a margin of 61% to 39%, while those who described themselves as non-investors favored Kerry by 57% to 42%. The kicker: no fewer than 46% described themselves as investors.

And with the proliferation of 401-k programs to replace traditional defined benefit pension plans, this figure is only growing. PowerLine wonders why individual accounts aren't more popular - that makes two of us. The argument that the market is a "gamble" is utter nonsense when you look at any 20, 30 0r 40 year period and is utter nonsense.

Even Jim Kramer (of CNBC fame), on Chris Matthews Sunday, suggested that people simply aren't smart enough to be investors on their own. One of the "non-financial" members of the panel reminded Jim that they would have a few limited fund choices, all of which are somewhat conservative. This is more a matter of dis-information coming from the Left than a lack of interest among the American public.