Posted on 04/30/2005 3:10:14 PM PDT by CHARLITE
Urges Lawmaker to Allow All Americans to Build Retirement Nest Eggs With Personal Accounts
As the U.S. Senate Finance Committee met today for a hearing about Social Security reform, the free-market grassroots group Americans for Prosperity named one of the committee's members, Sen. John F. Kerry, its inaugural "Investor of the Week" for his outstanding personal investment record and secure retirement future. The group also urged Sen. Kerry to back legislation creating personal accounts in Social Security, which would allow all Americans to build larger retirement nest eggs by investing some of their Social Security tax dollars in safe bond funds and stock funds.
"Senator Kerry and his wife, Teresa, are to be congratulated on the fine job they've done investing their personal assets in very effective, diversified and profitable ways," said Americans for Prosperity spokesman Ed Frank "Their retirement years promise to be very secure, thanks in large part to the power of long-term free-market investments. Of course, not all workers are as fortunate as Senator and Mrs. Heinz-Kerry, which is why it's so important to allow all Americans to invest a portion of their Social Security taxes in personal accounts."
Americans for Prosperity said Senator and Mrs. Kerry have done a particularly commendable job at diversifying their assets, with the Senator's most recent personal financial disclosure form's list [1] of trust funds, stock funds, individual stocks and other investments stretching 61 fine-print pages. For example, just one stock fund listed on Senator Kerry's personal disclosure form -- the "Heinz Family Commingled Stock Fund II" -- lists a wide variety of investments, including AFLAC, Abbott Labs, Anheuser Busch, Boeing, Bristol Myers Squibb, Cardinal Health, Carnival, Comcast, Costco, Disney, Duke Energy, Fannie Mae, Gannett, GAP, General Mills, GM, Home Depot, Honeywell, Johnson & Johnson, Kraft, Kroger, and at least 13 other corporations.
"This is the same kind of safe, highly diversified, long-term investing that personal accounts would make available to millions of American workers for the first time," Frank said. "All Americans should be able to own their retirement security and build a nest egg -- not just the rich and powerful. Hopefully, Senator Kerry will consider the sound free-market principles he's used to his personal economic advantage as he prepares to vote on personal accounts and Social Security reform."
[1] http://www.americansforprosperity.org/news/pdf/kerry_doc.pdf
I think the award should go to Te-RAY-za and her advisors.
Kerry isn't smart enough to create wealth for himself or anybody else.
Does he invest his money in something that pays about 2% as he demands that we all do with Social Security?
How ironic
"I'm just a gigolo, and everywhere I go
People know the part I'm playing
Paid for every dance (he's paid every dance)
Selling each romance (so much for romance)
Oh, what they're saying
There will come a day when youth will pass away
What will they say about me
When the end comes I know, I was just a gigolo
Life goes on without me"
AMERICANS FOR PROSPERITY.ORG ^
Is that an AKA for "Scrappleface"?....hawhahaa!
FMCDH(BITS)
Oh sure. Do you know what WORK it takes, body sculpting, cosmetic surgery, the clothes, the small-talk, the.... well whatever to marry money?
It takes a huge investment before landing the big investment down the road.
Besides, you have to have the capital to start this whole thing before investing.
Kerry was lucky. I just can't consider him arm candy. Whatever was Ter-AA-ZA looking for and found in him? It's like he bought Microsoft when it went IPO. That doesn't happen much.
Have two questions ---
1. Does congress currently pay into SS?
2. If vested before opting out in the '80's - were they or are they able to draw SS at 62 or 65?
Sure he is. He's got a job where he gets great pay, beaucoup benefits, where he doesn't have to even show up for work, and married a billionheiress...what's not smart about that? The guy is a geneeous.
FMCDH(BITS)
I still don't see where he's actually created any wealth.
But I grant you it takes a certain talent at self-aggrandizement and sucking up to parlay four months of bogus Nam "heroics" into a relationship with Ted Kennedy that can be used as a springboard to a Senatorial, umm, "career."
Kerry's investments are the result of John Heinz' death. A death benefit which is not granted to survivors of Social Security donors.
Think about it;)
Funny comment, nothingnew! Thanks! I thought you'd like this post!
Char :)
One of the tenets I live by is "Never underestimate anyone".
FMCDH(BITS)
Except the voters of Massachusetts.
Living off of another man's money, but what is even more ironic is that John Heinz didn't actually generate the fortune himself, either. One would have to go back to Heinz's father and/or grandfather. So Kerry & Tootsie are living it up (way up!) on a 100 year old fortune, not one penny of which either one of them are credited with having created.
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