it's interesting that the majority of people against privatization will not be affected by it, i.e., people over 50.
My Observations on Social Security
1. Democrats who have made fortunes in the stock market via IRA's, personal stock portfolios, "Thrift Savings Accounts" for federal employees, or worked for brokerage houses like Goldman Sachs, Dean Witter, etc. It's OK for us to make a fortune in the market but not for you peasants.
2. President Bush is not pushing "Privatization". He's pushing personal Government Accounts like "Thrift Savings Accounts" for Federal Employees, the money will still be taken out at the payroll level and you can't stop it.
3. The Democrats want to raise the cap. Right now the Cap is figured at $90,000 gross income per year, that's before any deductions are taken out of your check. It would kill the economy because many people are paying a fed income tax rate in this bracket from 28-35 percent would now have to cough up another 12.5% if your a real estate agent, small business owner, etc.
I'm sure if your employed by someone else and they will be generous and pay your extra 6.25% and give you the same benefits package.
4. How do higher taxes help solvency if personal accounts don't. Higher taxes will result in having to pay this amount in benefits plus one or two percent.
5. If your taxes go up and your benefits don't, isn't that a benefit cut.
6. Republicans should be pushing "Thrift Savings Accounts" that Federal Employees have with 5 different investment options with 6 to 10 percent returns over the years. I want my Social Security portion to go there.
7. It is a current administrated program with a track record that most federal employees that are happy with the program.
They are being told that they will, though. And there is little/no response from conservative organizations. I have gotten 4 phone calls from liberal groups so far attacking my Congressman over this.
not that we haven't saved.....we have....but SS is still needed and is the only pension either of us will have....