Posted on 08/14/2005 6:58:24 AM PDT by Graybeard58
WASHINGTON -- President Bush's plans to restructure Social Security and add voluntary private investment accounts will hurt Hispanics, particularly those who own small businesses, by burying them in new administrative costs and red tape, Democratic Sen. John Kerry said.
Speaking in Spanish for a radio address aimed at Hispanic listeners, Kerry said members of the growing minority are less likely to have alternate sources of retirement income so they rely more on Social Security.
"At a time when Hispanics represent the largest minority and one of the fastest growing business group we must ensure that we work together to strengthen Social Security," said Kerry, who ran unsuccessfully for president against Bush in 2004.
The Massachusetts senator, who is the ranking Democrat on the Senate Small Business and Entrepreneurship Committee, said that administering the private accounts being proposed by Bush will cost hundreds, if not thousands, of dollars.
The president has proposed adding voluntary personal investment accounts to Social Security in exchange for a reduction in guaranteed future benefits. Polls show the plan is opposed by six in 10 Americans, and it is facing solid Democratic opposition and considerable GOP skepticism in Congress.
Today is the 70th anniversary of the day the Social Security Act was signed into law by Franklin D. Roosevelt.
"Private accounts won't do a thing to protect Social Security and they won't work for small businesses," Kerry said in the Democratic radio address.
"No matter how a system of private accounts is set up, small businesses risk losing 40 percent or more of their Social Security benefits, profits and valuable time and resources under President Bush's privatization plan."
The radio address will be broadcast on local Univison Radio, Radiovisa, Radio Latina, Radio Bilingue, and CNN en Espanol Radio affiliates after 11:06 a.m. Saturday.
He should voice a concern for all Americans, good point .
Instead he is playing the typical class warfare card trying to divide the nation, but what can you expect from the democratic party, that is their only strategy, to split and break up our nation rather than build it up and support it.
Amen!
"Private accounts won't do a thing to protect Social Security and they won't work for small businesses," Kerry said in the Democratic radio address.
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More lies from the criminal left. Sorry Kerry, be we understand how "private accounts" will keep the money out of your COMMUNIST HANDS!!! THAT is what you don't like -- THAT is what you are worried about. AND of course, the legal and illegal MEXICAN VOTE.
Social security is not the issue. Seeing a Spanish language broadcast to the American people as common place should be.
The term was taught to me in the mid 60's by a Cuban refugee, who happened to be our Legion baseball shortstop! I've used it ever since!
That has to be one of the funniest things Spanish speaking listeners have ever heard. fnKerry speaks so slowly in English he sounds like he has a two digit IQ. Just imagine Spanish coming from a tape deck with dying batteries and his New England drawl.
Aiyeeeeeeeeeeeeeeeeeeee!!!! Bwaaaaa
No, Kerry would not know all of that because he is an empty suit who has done absolutely nothing since being elected Senator about 20 years ago. He is all talk and no action.
Would you by any chance have a reference for this information? I am thinking about writing a book, part of which would deal with the insanity of the tax code. I would like to include this information, especially if it is from a legitimate web site. Thanks!
Every time we get one, the rest of the Republican elites hold him down while the democrats neuter him.
Let’s see…, Kerry, oh, now I remember. Wasn’t he the guy that went to Viet Nam and did a 180, then wouldn’t sign a 180, but then he did, but he really didn’t?
Perfect - thanks.
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