Bush Social Security Plan Proves Tough Sell Among Working Poor

Washington Post on Yahoo ^ | 4/18/05 | Jonathan Weisman

[ol' hoghead]

Perhaps she should go on the web and look at the federal employee retirement "Thrift Savings Plan". If it is good enough for bureaucrats and professional, career politicians, it's good enough for anybody!
ol' hoghead

[Jackson Brown]

This headline is ridiculous!

How in the world is the "working poor" going to grasp these somewhat complicated issues of demographics. They can't -- and most don't want to if they could.

For them, the only option -- actually for all on the left -- is to make SS a pure government entitlement welfare program and then increasingly tax people who actually pay taxes (unlike THEM) to pay for it...ceasing to be a pay in to get out program all together!

As it was created, SS has to fail when the number of retirees gets REAL close to the number of workers...as it will be very soon.

[csmusaret]

I can and do fund IRAs. The personal accounts are especially beneficial for the lower income workers who simply don't have any money leftover to fund private retirement accounts. Those folks would be able to divert some of those "confiscated" funds into personal accounts. Can you picture a lifetime minimum wage worker leaving an inheritance? Personal accounts make that ,not only possible, but also lilely. And that is a good thing.

[F.J. Mitchell]

"Bush Social Security plan proves tough sell among working poor."

The working poor can't afford to buy into Bush's plan because they have blown all their money in the Dem's shell game.

[baystaterebel]

Yup, and that nest egg that gets passed on could seed a promising future, a larger nest egg, a home, a college education, etc..........

In reality the money in the account does not have to be at risk at all. There a many investment choices that are low risk. Imagine possibility of these private accounts. That little 3% of 12% compounding yearly for 50 years. Interest alone on that money would at least carry it along with inflation at the very least hedging the time decay.....

[international american]

""I don't know what's going on with it," she said one night at a tax clinic in Southeast D.C. "I just know I have these three accounts, so I just say, 'Let's hope and pray. Let's hope and pray it's not going into Enron. Let's hope and pray it's not going into Tyco.' It's just hard to absorb all I'm supposed to absorb."

I hear stupid goes to the bone. She ain't doin my taxes!!

[international american]

We have a winner!!

[RasterMaster]

Guess she never took the time to send for a "Social Security Statement" to see what little the Panzi scheme will provide. But then again, maybe she has aquired a taste for dog food.

[joesnuffy]

The problem is still government waste and wealthy politicans
continually feathering their own nests from the taxl payers wallets and having stolen from SS in the first place..

Big government is not the answer its the problem...

[HankReardon]

There are still poor people in America? No way! How can this be? How many trillions of dollars have been spent to "help" the poor? How can they still be poor?

[HankReardon]

Anyone of healthy body and mind fortunate enough to be born in the greatest, most prosperous nation the world has ever known during the greatest times the world has ever known that still "can't make it" get's no pity from me. They get only, and fully deserve my complete derision.