Mind your own lockbox

Some things just naturally go hand in hand. The economy and retirement plans are an example of two matters that cannot be separated. Their connection makes the recent trend of corporate abuse especially worrisome. The state of the economy will ultimately determine the choices Americans make about their retirement choices. Most likely, when many baby boomers see their 401K decline, they'll turn to the government for social security handouts, steadfastly relying on the government for economic provision. We're now all aware, though, that social security reserves are dry and that the next generation of retirees will completely empty the coffers, leaving coming generations to foot the bill. \nThe recent news of corporate crime comes at a time when the economy is recovering from a disturbing decline. Consequently, Democrats are trying to cast a negative spin on the trademark Republican issue, capitalism, scaring American investors into a big government state of mind. Unfortunately for them, their plan has some major loopholes in it.\nFirst, big government spending will make problems worse. With increased government spending comes increased taxes. With increased taxes comes decreased consumer spending, which means falling stock prices and angry, conservative voters. \nSecondly, the Dow has recently gone up and stayed up. Just as Democrats are hoping to cash in on a grim economy with more House seats, investor confidence seems restored. Will this stop the leftists' ploy to scare senior citizens from managing their own retirement accounts? Not if their congressional seats depend on it.\nThird, all of the corporate scandals began under Clinton's administration. Only when an honorable administration took the helm were the perpetrators spotlighted.\nMy hope, though, lies in the next generation who will have a successful example of social security privatization to mimic. This example will most likely come from Chile, which is already experiencing financial success after implementing privatized social security accounts.\nChileans maintain pride for their libretitas, their term for their personal retirement bankbooks. Even the common worker feels pride when keeping track of how much he is saving for retirement. The key for Chileans is that they get to connect the effort they make in their work with the reward they get in retirement. Americans need a lesson in this connection, which, when social security came, was replaced with an entitlement mindset.\nMuch needs to be said regarding the recent corporate scandals. The rising number of corporate criminals demonstrates America's need to get back to morality. We need to stand behind integrity -- teaching it in the schools and in the home. The new wave of moral relativism preached in academia for the past few decades has created a generation of selfish, morally-inept employees who will act on their own desires regardless of the consequences. The numerous examples of CEOs from Global Crossing, Xerox, Tyco, Worldcom, Enron and others clearly illustrate this point; consequently we need to stop teaching moral relativism and start teaching truth using these companies as lessons. \nCapitalism will not work without morality.\nCongress submitted a bill that will punish corporate crime, but such a bill will also allow the government to stick its hand further into the free market. When this happens, we can expect more economic decline. \nThe stock tip of the day to Congress: Stop spending. To corporate executives: Clean up your act. To workers: Take charge of your retirement accounts. To voters: Tell Congress you want your retirement privatized!