Posted on 03/11/2005 3:11:38 PM PST by churchillbuff
Churchillbluff=All Bush Bad News, All The Time.
All of those Cos. are US incorporated (esp. US airlines!)
Bush actually said he hadn't ruled out raising the cap...at least initially that is what he referred to.......
Social Security is the disease. It is a pyramid scheme and is the single largest fraud in the history of the world by several orders of magnitude. No amount of increase in GDP can change the fact that it is a pyramid scheme. There are only four ways to "save" SS, 1) raise the payroll tax, 2) cut benefits, 3) the government invest the money in private companies to provide a decent rate of return (~7%) 4) institute and gradually increased private accounts. The first two only perpetuate the fraud and postpone its ultimate collapse, the third would result in the government owning a substantial share of American corporations allowing the government to control those corporations and the fourth option is Bush's plan.
I vote for Bush's plan.
No. My understanding is that when asked if he'd raise the cap, he says what he always says about this stuff: "Everything is on the table."
But if anyone believes this president, who has drastically cut taxes and wants more tax cuts, is going to raise the cap, I have a bridge to sell them.
Pal, there is no lockbox, only US savings bonds backing up the debt, the sooner you realize it's a ponzi scheme the sooner you realize SS needs to be dumped like a bad girlfriend.
you are so right......as an Investment Broker I'll bet only 20% or so actually invest the correct amounts with many people just buying up material goods hoping that retirement will take care of itself.......if they aren't force to invest, they won't do it until it is too late......
their = they're - sorry
the pubbies rarely explain themselves well.
meanwhile, the feminists and socialists control most of the tv and newspapers, so their message gets out.
Ah, ok, the investment letter is a bunch of BS.
Bravo! Unfortunately it is easier said than done. :(
B.S.
Some Republicans are just trying to figger a way to surrender again to the Democrats.
President Bush is right on this.
What these old codgers that are fighting President Bush's social security reform plan don't realize is that if they succeed,they are signing their death warrants.
Once the younger people see their social security taxes go up to 30-35% of their earnings and their benefits cut to next to nothing because of what they [the old codgers] did,they will get rid of the old codgers.
FWIW, Cheney was on Rush's show today and left no doubt that personal accounts remain the cornerstone of SS reform. He was emphatic in his support of them and torpedoed the rumors that the White House has given up on the plan.
What's making me mad is how the older generation is untouchable and anyone under 67 right now is being asked to take all the cuts. That leaves me with 20 years to readjust my plans while the old folks had their whole life to plan for retirement. It's about ot hit the fan sooner than these morons realize.
You do not understand the way of Social Security actually works. The money you pay into the the system is not saved waiting for you to someday withdraw it. The money deducted from your paycheck goes to pay current retirees Social Security check. There is some money left over so the "Trust Fund" is currently growing, but it will soon start to shrink to nothing. If nothing is done, in the next 10 years, the "Trust Fund" will have zero dollars in it and the government will have three options, 1) cut benefits, 2) increase the payroll tax or 3) print money, none of which are in any way desirable. For many younger workers the money we are paying into Social Security is not being saved it is being squandered. The Greatest Generation was truly great and set this country on a solid footing, but they got suckered by the fraud that is Social Security and their children and grandchildren are the ones left to pay the bill.
You can read the transcript here >>>
http://www.rushlimbaugh.com/home/daily/site_031105/content/eib_interview.guest.html
Ahem. This IS about politics so of course the president is playing.
Ironically the reason many do not save enough for retirement is that they believe that the government will save them through Social Security, which is a cruel hoax. If the only purpose of Social Security is to force saving for retirement then it should be scrapped immediately and converted completely to mandatory private saving accounts.
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