Privatization: The Real Story?

Given that no Social Security privatization scheme is likely to pass in either branch of Congress (at least, so it appears at the moment), Ed Kilgore of the DLC wonders what the true purpose of this entire campaign has been.

You have to wonder if the purpose, if only the fallback purpose, of the Bush SocSec campaign is to suddenly shift the debate from personal retirement savings accounts financed by payroll taxes to personal general savings accounts stuffed with sheltered upper-crust investment income.

In other words, this has all been a pretext--a bait and switch--for the creation of tax-sheltered savings accounts for the wealthy.