About privatizing Social Security.
folk
political
satire
Story behind the song
The current political campaign to privatize Social Security.
Lyrics
1.
They want to kill Social Security
By tampering with its purity.
Instead of a government guarantee
We get a stock market gambling spree.
You think we'd have learned from history
Stock market behavior's a mystery.
Who knows where stock prices are bound?
One day they're up, the next day they're down.
CHORUS
Social Security is set for a stock market ride.
It's so exciting while your stocks are climbing
But scary as hell when they slide.
2.
Prime Minister Thatcher in Britain
By this same idea once was smitten.
Though largely a socialized nation
The Brits jumped in to privatization.
A good twenty-five years its been
Now they all want to jump out again.
Their pensions got lower, not higher,
Without enough pounds to retire.
CHORUS
3.
The word "privatize" is out of their arsenal
The accounts are now called "personal."
Somehow that sounds much less scary
All the more reason to be wary.
"Make profits" is Wall Street's ambition
With big admin fees and commissions
Your nest egg gets chipped, chipped to pieces
By retirement age, it's turned into feces.
CHORUS
BRIDGE
The program's insurance not welfare.
The years that we work we all pay.
And who needs new personal retirement accounts?
Did you forget your I R A? (and your 401K)
4.
The "Swift Boat" ad team's been hired
To get Social Security fired.
Don't trivialize their ability
They killed John Kerry's credibility.
Their new target's A A R P
Which wants to save Social Security.
The smear ads distort and disparage:
Claim A A R P is pushing gay marriage.
CHORUS
5.
Be smart and take heed what I've told you
Don't let the White House railroad you
The program is not in a crisis
Their claims are merely political devices.
Raise earnings caps so that the wealthy
Contribute more payroll. That's healthy!
Then Social Security will thrive
So we can retire and still survive.
FINAL CHORUS
Social Security is set for a stock market ride.
It's so exciting while your stocks are climbing,
But scary as hell, a fact you know well,
It's scary as hell when they slide!