Changes will only help CEOs and politicians

Car salesmen, appliance salesmen and others will push extended warranties because they are beneficial to the company and to them personally. This is the same reason President Bush and the stock market companies are pushing the privatization of Social Security.

Every day people go into our banks and ask the bank employees to balance their checkbook for them. If they cannot balance their checkbook, how can they be expected to handle a portfolio? Very few people who will depend on Social Security will save money if they get it into their hands. Every penny is used just to get by from pay day to pay day.

When the money is diverted from Social Security to a private investment, Social Security will receive less money. The stock market companies will benefit because not only will the diverted money go to them, the employers will not have to put as much into Social Security to match the employee contributions.

These companies are in a win-win situation and the workers will be in a lose-lose situation.

The chief executive officers and financial executive officers will continue to get their multi-million dollar bonuses. In a few years, the elected politicians will retire from their political positions and assume positions as CEOs and FEOs in those companies and start raking in the bonuses also.

The politicians know which side of their bread is buttered and they plan to make sure the butter is very thickly the time they get their new job.

LARRY SMITH

Sandpoint