ABC Social Security Hit Piece

ABC Good Morning America | 2/26/04 | Tomahawk

[GOPJ]

Thanks for the ping.

[Lancey Howard]

They better not dream of cutting MY benefits before they cut off all the immigrant SSI parasites and all the drug addicts, alcoholics, and "crazy check" kids on SSI as well. In fact, people who have worked all their lives and paid in better be the LAST people who get ANYTHING cut by the scumbag politicians.

I've had it confiscated from me all my life, and soon I will want it BACK.
So keep working hard, kids, and keep letting the scumbag politicians confiscate more and more out of your paycheck - - Ole Lancey wants to retire to the high life. From my beach house deck I'll watch, with cool beverage in hand and not a care in the world, the summer sunsets reflect off the breaking ocean waves, evening after evening.....

[dalebert]

We hear this story every election season and I be this time it will be all Bush's fault. Boomers worked and paid SS so the government had lots of money to spend on things they were not elected to do.

[Kozak]

The "solution" the Dems will advance is to raise taxes, making it harder for me to save for myself and my family.

It's worse then that. Look for them to again play the class warfare card, and want to tax all the 401K and IRA money, to "save Social Security". After all it's not "fair" that some of us have saved money to retire on. Some Dems ( like Jesse Jackson) have already suggested a "one time tax" on these accounts.

[Kozak]

People earning over $87k a year do not pay payroll taxes question is do they collect SS when they reach 65? Now that would not be fair.

They pay the full amount up to 87k, and the BENEFIT is CAPPED. If you want to be "fair" then if you tax the amount above 87k increase the BENEFIT as well. Otherwise it's not a retirement plan its a WELFARE PLAN. Frankly its a Ponzi scheme in the last round when the amont of suckers is not great enough to sustain the game anymore.

[jeremiah]

jIn Grandpa Simpsons voice: I don't need it and I didn't earn it, but if they take one dime away, I will raise holy hell.

[Kozak]

Currently, according to reports that I have read, Social Security is taking in more that is being paid out. Also, according to some, every Monday morning, 27% of the Social Security Trust Fund is transferred to the General Fund.

It doesn't matter, it's the old "lock box" falicy".
Money taken in by the government gets converted into securities. The money is then spent on current needs. The securities are an IOU to future taxpayers. There is NOTHING ELSE the feds can do with the money.

[Taxman]

Greenspan is not an idiot -- he speaks the truth: Either SS benefits will have to be lowered or SS taxes will have to be increased.

UNLESS, OF COURSE, SS IS PRIVATIZED!

Greenspan just started a debate that will resonate through the '04 election. The answer is privatization, and on this count, the Republicans have got the right ideas.

The government Ponzi scheme that is Social Security is, with apologies, "A Dead Program Walking." It is only a matter of time.

[Kozak]

Well we could go back to the old system where granparents lived at homee with their children

Wrong Grandparents were usually dead. The reason the retirement age was set at 65 was because MOST PEOPLE wouldn't reach it.

[Axenolith]

Some Rulings cited in this piece