Because the rich piss on the rest of the country. I don't see many working class people leaving hundred-million dollar estates to 15 different heirs. All ending this will do is allow the richest Americans to get richer while further screwing everyone else over. Dubbya wants to make the plan retroactive, so he can technically start screwing over people before he was even in power. Dubbya wants people to invest their own social security money.
Most people have problems balancing a check book.
Especially in the massive depression that Dubbya seems to be trying to bring on, I'd rather the government handle that stuff, as they have been, so we don't have millions of seniors starving in the streets in a few years. No, not the movie, but a lot more costly and less realistic. Just in case Russia decides to launch some ICBMs over the north pole in an attempt to win the arms race once and for all, this could theoretically protect us. Now, Dubbya's trying to do a lot of stupid things, but one thing particularly pisses me off. There are wildly varying estimates as to how much oil is there, and because of the size of the operation, even if there is a great deal of oil there it will do nothing for decades to our energy prices or supply.