{"id":180532,"date":"2017-03-22T18:36:00","date_gmt":"2017-03-22T23:36:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2017\/03\/22\/quote-of-the-day-69\/"},"modified":"2017-03-22T18:36:00","modified_gmt":"2017-03-22T23:36:00","slug":"quote-of-the-day-69","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2017\/03\/22\/quote-of-the-day-69\/","title":{"rendered":"Quote of the Day"},"content":{"rendered":"<blockquote><p><span style=\"color: blue;\">\u201cThe New Rules Hurting Retirement Security\u201d [<a href=\"http:\/\/democracyjournal.org\/briefing-book\/the-new-rules-hurting-retirement-security\/\" rel=\"nofollow noopener\" target=\"_blank\">Democracy Journal<\/a>].  \u201cFewer than one third of Americans aged 65 to 74 have any savings in a  retirement account and the accounts that exist are inadequate to provide  a secure retirement\u2014the median balance is just $49,000. The situation  for younger workers is even more dire.\u201d So, in the face of this crisis,  liberals have a complicated \u201cnudge theory\u201d Rube Goldberg device, which  sucks, and conservatives have <a href=\"https:\/\/en.wikipedia.org\/wiki\/Simple_machine\" rel=\"nofollow noopener\" target=\"_blank\">a simple machine<\/a> (in this case, the screw). The unasked question: Why should people have to \u201csave for retirement\u201d at all?<\/span><\/p>\n<blockquote><p>\u2014Lamberth Strether at <a href=\"http:\/\/www.nakedcapitalism.com\/2017\/03\/200pm-water-cooler-3222017.html\"><i>Naked Capitalism<\/i><\/a><\/p><\/blockquote>\n<\/blockquote>\n<p>Except for calling the screw a simple machine, I think of it as a helical wedge, and think that the ancient Greeks were in error giving it status as a separate element, I agree completely.<\/p>\n<p>Private retirement accounts are primarily about lining Wall Street&#8217;s pockets, which is why the Clinton\/Obama wing of the Democratic Party has been Jonesing to privatize Social Security for decades.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cThe New Rules Hurting Retirement Security\u201d [Democracy Journal]. \u201cFewer than one third of Americans aged 65 to 74 have any savings in a retirement account and the accounts that exist are inadequate to provide a secure retirement\u2014the median balance is just $49,000. The situation for younger workers is even more dire.\u201d So, in the face &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[456,464,504,374,508],"class_list":["post-180532","post","type-post","status-publish","format-standard","hentry","tag-finance","tag-good-writing","tag-philosophy","tag-politics","tag-social-safety-net"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/180532"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=180532"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/180532\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=180532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=180532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=180532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}