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Take a wild guess at which organization has this article, titled "Count on Compound Interest," on its website:
"Many years ago, someone asked Albert Einstein what he thought was the human race's greatest invention. His reply?
Yep, how did you guess? The AARP:
They go on to describe the "Rule of 72:"
"How long will it take for your investment to double with compound interest? To find out, use the Rule of 72. Divide 72 by the interest rate you expect to receive on an investment. For example, if your investment earns 6 percent interest, your money will double in 12 years (72 divided by 6 equals 12)."
"The AARP advertises no fewer than 38 different stock and bond mutual-fund investments to their members. You can buy anything on their website from big-cap Dow stocks to emerging-market funds. If you want to 'gamble,' you can even buy Argentina — through the good offices of the AARP."
Not only that, but AARP, as an organization, is broadly and deeply invested in stocks and bonds.
Meanwhile, AARP vehemently opposes Social Security reform. Their ads say:
"If we wanted to gamble, we’d play the slots.”
They even have a little picture of dice on their website to indicate "gambling."
Why does AARP oppose reform?
-Because scaring seniors is good for AARP's business. Framing its fight as one on behalf of seniors against forces who want to take away entitlements is good for business.
-Because, with the current system, AARP is able to perpetually lobby for benefit increases. Reform the system, and AARP's lobbying efforts on Social Security are no longer required.
-Because it supported the Medicare Prescription Drug efforts of President Bush, which irritated Democrats in Washington. AARP is trying to get back in good favor with Democrats. Afterall, AARP has received over a billion dollars in taxpayer money over the years.
-Because AARP has always had a big-government agenda. It is a liberal-leaning organization.
Posted by Will Franklin · 8 February 2005 02:46 PM
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