Posted on 02/15/2005 7:41:23 AM PST by Michael.SF.
From a notice received from Congressman Miller's office:
President Bush's top domestic priority is to change SS forever. His plan would partially privatize social security (Emphasis his). On Dec. 16th in Washington, the President said SS is in "crisis." In response, he would turn part of the system over to Wall Street. But the system is not in crisis -- the government's own analysis found that even with no changes, SS could pay the full benefits until at least 2042, and pay very substantial benefits thereafter.
9:00 AM - Benicia City Hall
11:00 AM - Hercules City Hall
12:30 AM - Richmond - Grace Lutheren Church
I plan on attending the TH in Benicia and would welcome comments from fellow Freeper's on the best question to ask Mr. Miller or supoporting links to refute his comments.
When FDR started this ponzi scheme he thought that privatization of a part of it would be a good thing. How come we never hear anything about that? I know, it is a stupid question.
The private accounts would be optional--so anyone opposed to the stock market (for whatever reason, be it fear of risk or whatnot) would not need to participate. Also, while true that the government can pay SS for decades to come, it is only in the black for about 13 more years. After that, the government will need to divert money from other areas in order to meet demand.
Perhaps you can ask him 1) if he doesn't think Americans are smart enough to manage their own retirement, and 2) if he thinks diverting money from other government programs in order to keep SS afloat is really sound fiscal policy.
Piquaboy - That also is a good point. Do you have a quote, reference or link that confirms that. To be honest I had not heard that he was in favor of privatization.
Dems like to cherry-pick that history don't they?
Tell a lie enough and it becomes the truth, ignore historical facts and they become nonexistent.
Sorry, I don't. Rush Limbaugh was talking about that several days ago. I imagine that the quote is out there somewhere as I or no one else has caught Rush lying about something that important.
Evidently, Roosevelt said it in a speech to Congress (I think) about SS......maybe a search of speeches?
Ask him why he thinks that the government is better at saving my money than I am? If they are better, then how come SS is in danger and my 401k is not? If I think I can do better and I know the risks, shouldn't I have a choice?
I mean I already pay SS and have IRAs, investments, and a 401k. And, guess what, I won't get a 100% of my SS.
Excellent!
"In that Social Security funds are presently invested in U.S. Treasury Notes, would he object if voluntary contributions to private accounts were invested in U.S. Treasury notes rather than 'Wall Street'? If so, why?"
His response (summarized):
Since the rate of return on notes is the same regardless of if you invest it or SS invests it, you will actually be taking money out of the system w/o coming out ahead. You are also going to have to cover the costs of somebody handling these funds for you. So there would be no benefit in that.
His comments were essentially, as one would expect a loyal Democratic Liberal (he used that term to describe himself), were:
1) Social Security is the best government plan ever implemented.
2) The system is not in crisis and will be funded through 2042, then 80% funded after that.
3) If Bush had not reduced taxes on the wealthiest 1-2%, we would not have this problem today.
4)Bush is using incorrect numbers in another attempt to both scare and deceive the public.
5) Privatization will be taxed at up to 70% rate if you come out ahead.
6) If you privatize and lose money, then it will cost the rest of us more to bail you out. Which is what SS is in the first place.
In fairness, he emphasized that savings and or 401 K's are the best way to plan for a secure long term retirement. He also reiterated that SS should only be a part of your retirement plan, not all of it.
Benicia is probably 65-75% Democrat. Most of the people there swallowed everything he said, hook line and sinker.
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