Wonder how the new social security proposal could affect you?

by blondie 42 Replies latest jw friends

  • DaCheech

    Does anyone here know what the "Social" in "social security" means?

    Also, has any other country been successful at what GW Bush is proposing?

  • jula71

    Also, has any other country been successful at what GW Bush is proposing?

    Yes, Chile has had a private account system since the min-80's. And right now, same with Galveston, TX. People are retiring and getting more money then they did while still working.

  • DaCheech
    " And right now, same with Galveston, TX. People are retiring and getting more money then they did while still working"

    Statistics please, how many poor people in chile are not, and out in the street

  • puppet

    When you pay into social security out of your paycheck your employer also pays into social security a matching amount for your benefit. What?s going to happen to that matching employer?s portion, most likely back into the pockets of big corporations and their shareholders. Sounds to me like King George and the Dick are taking care of their friends the elitist under the disguise of looking out for the little guy.

  • silentWatcher

    Not sure about what the social means, but the republicans want to take the "security" out of social security.

  • DaCheech

    Rats are sleeping in the white house!

    We left (or are trying to leave) this JW scam. There are many here that share their heartlessness.

    I love rich and poor (and would not want my mother begging just because she was not smart enough to invest her $25/week in the wrong right thing)

  • Pistoff
    But the thing is, why are citizens against it? It would be a totally voluntary program, we don?t have to do it if we don?t want. I want the chance to decide for myself.

    What is NOT voluntary are the benefit cuts and the obscene up front costs of up to 6 trillion dollars. Bush himself has stated that private accounts will NOT address the solvency issue of SS. Why are they such an important thing to him then??

    Review the large amounts of cash that financial sector donated to his '04 campaign, and you will see why.

    How about this: raise the cap from 90K to 150K; there will never be a solvency issue.

    Or just state this: you should all save more. It is the cheapest way to do what Bush claims private accounts are for: make the solution more attractive.

    Private accounts will never hit the goal he has put out there; if there is only so much profit for invested money to chase, dumping more money into the market will not make companies more profitable. It will, however, cause an speculation boom we have not seen the likes of since the gold rush days. The savvy will make a killing; the rest will get fleeced.

    This is a pig in a poke; every working american should be screaming loud and long to avoid getting their retirement stolen. The rough outline of his program tells the real intention: you will have to pass a means test; if you are above the 30% line, you will not get much at all.


  • Pistoff

    The real issue is addressed by even Jula:

    The right does not believe in social programs, any social programs.

    They have an allergy to allowing the gov't do for pennies what their rich sponsors will charge PLENTY for: managing your money.

    The upfront costs of this dog of a program will sink any chance it has of actually improving the cash flow.

    Jula: think about this. TRILLIONS to be invested, when the program is already having cash flow problems? That is all it is; don't believe the dire predictions of 2017; SS will stay solvent thru 2042, at which time it can still meet 70% of it's obligations. Improve the cash flow; don't destroy the program.

    It is dishonest to keep saying that one can keep the old SS format if we want; you are implying that we won't get the benefit cuts but we will.

    Keep the rhetoric out of this and it is easy to see that this is a horrible change to a successful program.

  • love11

    I guess I really don't think that I will get any social security. (I don't have a positive view of the BUSH future) I protested against Bush and was at a Kerry rally. I had my signs stolen twice out of our yard, until I hung up signs saying that - Choice is freedom- Stop stealing my signs you fascist- Help make America fascist, steal this sign. After that, it stopped my sign stealing problem.

    But it said mine would go down 21%.

  • DaCheech

    Everyone should look at the load of their 401k funds. Most are about 1%

    This would mean that the private plans of SS would make these guys rich! The Wall street brokers rich -vs- the poor getting poorer

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