Bush Holds News Conference [Proposes to turn social security into a poverty program]

The New York Times ^ | April 28, 2005 | DAVID STOUT

[ran15]

Giving money to congress to fix its over-budgeting problems, is like giving more money to a fat kid to convince him to stop buying so much candy.

[Rightwing Conspiratr1]

And it shows what desperate condition social security is in if they are even considering turning it into a poverty program in order to save it.

It IS a welfare poverty program.

[Nyboe]

preach on brother !

[OrioleFan]

I loved it when he said "If you were born in 1950 or earlier, you wouldn't get cut." I was born in 1951. Guess I have to put off retirement for a few more years...

[Brilliant]

That's not how it's been sold to the American people. If they are going to start referring to it as a poverty program, then we're talking sleight of hand here, and someone needs to call them on it.

[ampat]

SS already is a poverty program. Those who rely on it exclusively, are way below the poverty limit.

[mlc9852]

I thought those who receive SS often end up receiving quite a bit more than they paid in, of course depending on how long they live. I've never bothered to figure it out, but that's what I've heard. If that's the case, the young will always be paying more and more for those already receiving SS. By the way, the SS trustees believe something must be done and soon. And they are non-partisan.

[Raycpa]

Anyone else but you then?

[Protagoras]

You are on the wrong site.

[Brilliant]

I'm 46. I've been paying into this Ponzi scheme for 22 years. As I calculate it, I'll pay into the Ponzi scheme for another 21 years, and then it will go broke just as I am retiring.

I would hardly say "I've got mine."

[evilC]

This changes very little. Social Security is, and always has been, a wealth transfer program. Money is taken from one group and given to another. You have no vested rights in Social Security (Fleming v. Nestor) and Social Security taxes (and they are taxes not "contributions" or savings) do not have to be spent on Social Security benefits (Helvering v. Davis).

This change just makes it more obvious that Social Security is a welfare program. Perhaps that will help people realize that the solution is not to save it, but to end it ("end it don't mend it" maybe?). The real problem, like all other Social Security reform ideas, is that the current retirees get a free ride. This is an intergenerational transfer of wealth and an intergenerational problem. It seems unfair that only one generation bears the burden of solving it. The current retirees made Social Security the "third rail" and delayed reform; they should not leave the rest of us holding the bag.

[HankReardon]

Always keep mind when talking about Social Security money, how much one pays in and how much one gets, none of this money is ever invested, it is all spent.

If I offered you a retirement plan like this, would you opt for it?

[mlc9852]

I think the investment option would be a good choice.

[Brilliant]

What it does is it highlights the difference between the REAL social security and the fraudulent social security that has been sold to the American people. If they want to finally come clean and tell us that it's just another poverty program then they've got to atone for all the lies they've been telling us for the last 60 years. And why should we trust them now?

[crz]

Maybe we ought to demand our money back? At least those born after 1950 should get everything back they paid in no?

Since they claim it is solvent and all that..then there shouldnt be no problem returning our investment.

Heh Heh..fat chance of that.

[B4Ranch]

>>Well, I guess I should state the wealthy dont pay it, those who still earn an income do.

Those with wealth would do well to not pay hardly any taxes.<<

There is no way around it on the 1st 90k.

[Raycpa]

You just want the older guy to get screwed more so that you can cut your losses.

[finnigan2]

The only thing I've gathered from reading the posts so far is that only about 10% of you have the slightest idea what you're talking about. The other ninety percent have your skirts up over your heads- fearing that poor people might actually wind up with enough to live on or that it's not going to make you filthy rich.

[Gipper08]

Social Security IS a welfare plan.

[Brilliant]

Why don't we just turn every program into an anti-poverty program?

The left has been lying to us for 60 years, telling us that if we put this money into social security, then we would be assured of receiving social security benefits in our old age. Now they are doing a switcharoo, telling us that if we made a lot of money, and were so stupid to put it into social security, then thank you very much, they are going to give it to someone else.

Politicians are scum.

Personally, I think we should just accept the Dems' claims that there is nothing wrong with social security, do nothing, and then when it goes bankrupt, seize the assets of anyone who served in government for the previous 60 years to pay for the deficiency. Afterall, it's a fraud that they've committed. They should be held liable.