Posted on 02/02/2005 5:13:19 AM PST by goldstategop
Sen. Blanche Lincoln (D-Ark.), whose state also will be visited by Bush this week, said she hoped Senate Democrats would act in unison to prevent the diversion of Social Security taxes to private investment accounts.
"It's critical for what we stand for," Lincoln said.
Reid told reporters he had received personal commitments from all Senate Democrats to oppose private accounts in Social Security. He added that one or two members might try "to keep their powder dry" by not declaring their opposition publicly at this point.
The one Senate Democrat who remained uncommitted on the issue was Ben Nelson of Nebraska.
"I'm not going to take a position on anything until I see what the president has laid out," said Nelson, who will meet with Bush when the president visits Nebraska on Friday for a "town hall" meeting on Social Security.
(Excerpt) Read more at latimes.com ...
Denny Crane: "I want two things. First God and then Fox News."
SS reform has the possibility to dead lock congress for the next few years.
Which isn't a bad thing.
NE needs two GOP senators.
So does AR.
While I personally support major Social Security reform, I think we probably shouldn't get our hopes up too much on this issue at the current time. SS is the very heart of the Rooseveltian welfare state, it's generally pretty popular (especially among the retirees), and the Dems won't compromise one iota on this one.
Denny Crane: "I want two things. First God and then Fox News."
How can they completely block it?
I know they can slow it down, maybe even try a filibuster, but if all of the Repubs are in line, then the deal is done.
Somehow, I don't think that they will be...
You have that right.
I work with minority teens and they like the idea of having their money in a private account. The kids may be disadvantaged, but they sure aren't stupid.
Denny Crane: "I want two things. First God and then Fox News."
They don't stand for anything, so that's an easy target to hit.
The truth is there are 3 options: 1. Increase taxes, 2. Decrease benefits, 3. Change the equation.
The first won't work because of the simultaneously increasing recipient population and decreasing paying population. You'd have to take most everything the payees were making just to pay for the benefits.
The second won't work because with the simultaneously increasing recipient population and decreasing paying population, you'll have to lower the benefits to where they'll cover so little that you might as well not have the benefit.
The 3rd option has the potential to have workers build funds UNTOUCHABLE by the Federal Government...funds that belong to the individual and only to the individual. That plus some centralized social security money just might total enough to make a difference to retirees fifty years from now.
Sen. Blanche Lincoln (D-Ark.), whose state also will be visited by Bush this week, said she hoped Senate Democrats would act in unison to prevent the diversion of Social Security taxes to private investment accounts."It's critical for what we stand for," Lincoln said.
Namely, more and more government control over our lives.
Let's have compassionate conservatives rally for people who are dying, to be able to take ALL of the money THEY have put into it, plus ALL of THEIR EMPLOYER'S contribution as soon as they want it.
Let's have compassionate conservatives rally for the spouses whose loved one died unexpectedly to recover ALL of the money that THEIR SPOUSE had put into it, plus ALL of THEIR EMPOYER'S contribution as soon as they want it.
That will sink this Titanic fraud.
There is a fourth option and it is similar to what Europe and Canada are doing. Dramatically increase the rate of immigration of young workers. This ensures a steady supply of FICA taxed workers that will cover current costs. The downside is the destruction of American borders, language and culture. In some ways, it would be poetic justice. Reduce the benefit levels of retirees to match the wage levels of a flood of immigrants so those people relying on cheap labor get cheap benefits.
http://www.ssa.gov/qa.htm
http://www.chronwatch.com/content/contentDisplay.asp?aid=12703
[snip]Chile privatized its Social Security system more than a decade ago, and it works quite well. In a nutshell, everyone in Chile pays 10% of their income (less than the 12.6% we now pay as a Social Security Tax) into their Private Retirement Account (PRA), which is essentially the same as a 401k or an IRA, with a widely diversified investment base. Then they draw the money out when they retire, in monthly payments calculated on their actuarial life expectancy. For the 10% of so of Chileans whose PRAs aren't enough to fully fund their retirement, the government makes up the difference for a baseline minimum Social Security benefit, which is set by statute - and paid from general revenues. There is no separate Social Security tax.
http://www.tsp.gov/ - http://www.tsp.gov/features/chapter01.html#sub3
· A choice of five investment funds:
– Government Securities Investment (G) Fund
– Fixed Income Index Investment (F) Fund
– Common Stock Index Investment (C) Fund
– Small Capitalization Stock Index Investment (S)
Fund – International Stock Index Investment (I) Fund
If these plans are good enough for federal employees, they should be good enough for ‘we mere’ citizens.
Support the President on this - he has the courage to tackle SS, something the Democrats are scared to death of/they might lose money!
Dear Supporter,
Our Put Kids First campaign is drawing national attention to the needs of the 11 million American children living without health insurance. This week, we take it to another level.
In less than 36 hours, President Bush will use his State of the Union speech to stampede the country into a false sense of crisis on Social Security, while ignoring the real and immediate crisis of 11 million American children waking up this morning without health insurance.
But, we won't accept the President's refusal to act as the final word on meeting the needs of our children.
Kerry is now using the "for the children" ploy - just another sham and/or more expensive entitlements; more Bureaucracy and more cradle to grave government. None of which a responsible and free society should need EVER! The letter gives this phone number to call:1-866-876-4490 - please feel free to do so and leave a sweet message like NO THANK YOU!
Which is..Total Government Control of your life!
Yes it is. We need immigration legislation (no drivers licenses) and overall tax reform, not to mention making tax cuts permanent. THEN they can deadlock.
Where in this whole thing does it say that money will be diverted?
Why don't they just allow people to take up to an additional (n%) of their earnings, pretax and put it into an account?
Then as the years go by, we start paying down when the people that invested in the program start retiring. Eventually everyone becomes invested in the new system and the old welfare system now in place goes away.
All Frist has to do is not allow any other Senate business to proceed until the SSI reform bill is voted on.
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