By The Numbers: Social Security

Republican National Committee ^ | January 18, 2005

[RWR8189]

BY THE NUMBERS: SOCIAL SECURITY
Americans Understand Social Security Crisis
And Support Personal Retirement Accounts
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“The Survey Suggests That Democratic Leaders May Be Out Of Step With Their Rank And File On The Severity Of The Problems Facing Social Security.”  “Those leaders are attempting to thwart Bush’s plans by saying there is no immediate crisis.  But two-thirds of all Democrats said they worry that there is not enough money to keep Social Security funded until they retire.”  (Richard Morin and Dan Balz, “Political Divisions Persist After Election,” The Washington Post, 1/18/05)

“A Clear Majority Of Americans … Support The President’s Proposal To Allow Younger Workers To Put Some Of Their Social Security Savings Into Stocks Or Bonds.”   (Richard Morin and Dan Balz, “Political Divisions Persist After Election,” The Washington Post , 1/18/05)

DEMOCRAT LEADERS OUT OF TOUCH: 
AMERICANS REALIZE SOCIAL SECURITY IS IN CRISIS

What do you think of the nation’s Social Security system? Do you think that by the time you retire there will be enough money in the system to pay you the benefits you are entitled to, or do you think there will not be enough money left to pay you benefits?
Yes, will be enough	36%
No, will not be enough	60%
(VOL) Not covered by Social Security	1%
DK/No opinion	4%
Source: A Washington Post-ABC News poll conducted by telephone January 12 - 16, 2005 among 1,007 randomly selected adults nationwide. Margin of sampling error for overall results is plus or minus three percentage points. Fieldwork by TNS of Horsham, PA.

AMERICANS WANT SOCIAL SECURITY TO BE A PRIORITY

Please tell me what kind of priority you think George W. Bush and the Congress should give Social Security.
The highest priority	35%
High priority but not the highest	55%
Lower priority	10%
DK/No opinion	0%
Source: A Washington Post-ABC News poll conducted by telephone January 12 - 16, 2005 among 1,007 randomly selected adults nationwide. Margin of sampling error for overall results is plus or minus three percentage points. Fieldwork by TNS of Horsham, PA.

AMERICANS SUPPORT PERSONAL RETIREMENT ACCOUNTS

Another idea to help keep the Social Security system funded would let workers put some of their Social Security savings into stocks or bonds if they wanted to. That could produce higher or lower benefits depending on how the investments perform. Would you support or oppose this stock-market option for Social Security?
Support	55%
Oppose	41%
DK/No opinion	4%
Source: A Washington Post-ABC News poll conducted by telephone January 12 - 16, 2005 among 1,007 randomly selected adults nationwide. Margin of sampling error for overall results is plus or minus three percentage points. Fieldwork by TNS of Horsham, PA.

[digger48]

Kinda flies in the face of what is portrayed by the Left.

[Drammach]

First you have to get all SS funds out of the congressional General Fund..
Second, prohibit Congress's access to those funds.. ( No "borrowing" SS surpluses for general congressional spending..
Third, provide for proper investment of SS income at a decent rate of return...

I am not an expert in investment, nor a proponent of sticking SS funds into the stock market, but it seems to me that SS payments could be "invested" in some sort of account with say, the federal reserve, or some financial institution, and recieve a better interest rate (prime rate anyone? ) than the approx. 4.5% presently paid by congress..

Protecting Social Security Funds from corruption and abuse Has To Be Number One Issue..

[Iscool]

As I understand it, there is no fund per se'....When the money comes in, it's not separated into it's own account...And every president since whenever has refused to push for a fund with a lock on it...

How can Bush tell us the fund will run out when there isn't a fund???

If we all start investing our money into the stock market, there will be a lot of very rich people as the result...And it won't be us...The stock brokers win even if we lose...They take their portion of our money off the top...

If the stock market was all they want us to believe it is, why haven't they invested our social security payments into it and reaped the massive rewards...Our monthly checks could have been doubled...

[Nick Danger]

If the stock market was all they want us to believe it is, why haven't they invested our social security payments into it

Because people with sense did not want government ownership of corporations.

[henderson field]

"...government ownership of corporations..."
Stalin tried that and it didn't work.

[LibertarianInExile]

How about this idea to do that?

We pay out 100% of the SS taxes to the folks who paid in, to fedIRA accounts that can't be disgorged for any reason before the age of 62. No interest. Just the principle paid.

Then we get the government out of the retirement extortion scam and let everyone do their own thing.

I'd be willing to go further into national debt for that, even though I'd probably have to pay additional taxes over the long haul to get out. But right now, Dubya's private accounts for 2 or 4% of my paycheck don't seem like a plan to me for ending the problem.

[PGalt]

Socialist security = economic cannibalism

[Drammach]

As I understand it, there is no fund per se'.

Yeah, that's what I'm saying..
SS income goes into the congressional "general fund"..
Any "surplus" not used to pay SS benefits is "borrowed" by congress for other programs..
Congress issues bonds which provide (approx.) 4.5% interest ( at maturity, less if repayed before..)

If we all start investing our money into the stock market, there will be a lot of very rich people as the result...And it won't be us..

Like I said in my previous post, I am NOT a proponent of SS investing in the stock market..
How does the saying go ? ( Past performance is not indicative of Future Results.. Results may vary.. )

My personal preference is something safe, like a "financial institution", with a guaranteed return.. and since it is, after all, Social Security, I would think that a premium rate of return would be fair..
Not being a financier, I will leave that up to those with more knowledge than I have on the subject..

All I know is, where Congress and Money are involved, Congress cannot be trusted to act in the interests of "the people"..

[Parmy]

Congress people and Senators have their retirements invested in the stock market. They are not invested in Social Security.

If the stock market is good for them, why isn't it good for the rest of us?

[Drammach]

If the stock market is good for them, why isn't it good for the rest of us?

It is, if you know what you're doing, or you can place your investments in the hands of people who do..
And of course, if you're able to afford the losses if the market goes on a downturn..

The problem with the stock market is, you can't stick your money in it and ignore it for 30 - 40 years, and just expect to get a hefty return..
Sometimes people LOSE money in the stock market..
BIG money..
Can you afford to lose 60% of your retirement funds a year before your retirement??