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Monday, September 26, 2005
Star Parker :: Townhall.com Columnist
Let's have some new thinking on fighting poverty
by Star Parker
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Will the Dems' health care Christmas Present to America be an improvement or detriment to our health care system?


No Child Left Behind had broad choice provisions as initially proposed by Bush. However, these provisions were gutted as a result of Democratic opposition.

Blacks themselves understand the importance of vouchers and choice, and regularly poll over 50 percent in favor of them. Yet the Congressional Black Caucus remains opposed to any plan that would give black parents choice and black kids an open field of alternatives for school.

Social Security private accounts is another issue, proposed by Bush, that the Black Caucus has fought to the detriment of its own community.

Black politicians, if they really wanted to lift the economic shackles off their own constituents, would be fighting to free them from the regressive payroll tax that deprives them of ownership and wealth creation. Despite the political smoke, this reform is for poor people, not rich people. The wealthy can pay the tax and have plenty spare cash left over to save in 401(k)s and IRAs. But for someone making $25,000 a year, that's not the case. The only cash that could be available for saving is taxed into Social Security.

But, here again, the Black Caucus tells blacks that it is too risky to get off the government plantation.

Any finance professor will make clear that over 40 years the risk of a savings account that is half bonds and half stock index fund is minimal and is virtually certain to produce retirement income many times greater than what Social Security promises (and does not have to give). So why do black political leaders, who supposedly care about black economic well-being, uniformly fight this?

Black liberals should give Einstein a little credit, even if he was white. It is indeed insane to repeat past failures and expect different results. It's time for black leaders to start believing in their own people.

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About The Author
Star Parker is the founder and president of CURE, the Coalition for Urban Renewal & Education, a 501c3 think tank which explores and promotes market based public policy to fight poverty, as well as author of White Ghetto: How Middle Class America Reflects Inner City Decay.
 
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