Call me cynical

[Pah]

Bush Extols Value of Private Investment
President Addresses Young Workers' Worries About Social Security

By Peter Whoriskey
Washington Post Staff Writer
Saturday, April 30, 2005; Page A07
Complete article here - registration required

President Bush brought his campaign to restructure Social Security to a Fairfax County community gym yesterday, taking the stage to hold conversations with five young local workers who fear that the system will have gone bust by the time they retire.

Bush Plan Greeted With Caution
Congress Prepares To Draft Legislation On Social Security

By Jonathan Weisman
Washington Post Staff Writer
Saturday, April 30, 2005; Page A01
Complete article here - registration required

President Bush's embrace of Social Security benefit cuts that would hit 70 percent of future retirees received a wary reception from both parties yesterday as Congress prepared to move ahead with remedies for the retirement system's financial problems

.

I must admit to being wary as well.

No Light at the End of the Tour

By Dana Milbank

Saturday, April 30, 2005; Page A07

From a Washington Post editorial - registration required

Discussing Bush's plan to erase 70 percent of the Social Security shortfall, Moran [Rep. James P. Moran Jr. (D-Va.)} said, to laughter: "He fixes 70 percent of the problem that he creates" by setting up private accounts. "Honestly." Or maybe not. In the long run, the personal accounts don't have anything to do with the system's $4 trillion projected shortfall -- and they may even help reduce it.

 

[The Voice of Reason]

Okay - you're cynical.

Your fears may be well founded, but you are cynical, nonetheless.

TVOR

PS - nice tatoo on the avatar.

 

[seagull]

Call me cynical

I don't think that I can do that since it is the president that wants to turn Social Security into a welfare program.

 

[Pah]

Okay - you're cynical.

I don't think that I can do that since it is the president that wants to turn Social Security into a welfare program.

Ah don't make me choose between two posters I like very much

 

[CaptainXeroid]

I don't think that I can do that since it is the president that wants to turn Social Security into a welfare program.

Not correct. The President is trying to take a pyramid scheme that is based on a faulty assumption into a viable retirement plan. The current plan is to take money from those who work, give it to those who have retired, and hope enough workers die so they don't draw on it too long.:biglaugh: It's quite laughable that anyone would think this is a good idea. Granted, like any pyramid scheme, the people who got in early made out like bandits, but to the rest of us, Social Security is nothing but a money pit.

BTW...I'll have to look up the source, but over the course of their lifetimes, Social Security effective transfers, on average, $10,000 of wealth from each Black and HIspanic men to elderly white women. No wonder there's so much resistance to any changes to Social **cough**Scam**cough** Security.

 

[Cr0wley]

Chris Rock has a brilliant view on Social Secrurity

"[font=Arial, Helvetica, sans-serif]The average black man dies at 54. Black people should get Social Security at 29. Black people don't live that long -hypertension, high blood pressure, NYPD..."
[/font]

 

[Pah]

.... Granted, like any pyramid scheme, the people who got in early made out like bandits, but to the rest of us, Social Security is nothing but a money pit.

Thank you, and keep that monery coming. But consider my feelings I'm going to have to pay my share of billions to provide the "cross-over". You owe me, fella, for both!!!

BTW...I'll have to look up the source, but over the course of their lifetimes, Social Security effective transfers, on average, $10,000 of wealth from each Black and HIspanic men to elderly white women. No wonder there's so much resistance to any changes to Social **cough**Scam**cough** Security.

Please do!!! and I wonder why you picked blacks and hispanics for the example. That wasn't a racial political play was it. I seem to remeber whites and Asians contribte too! It's just those pesky rich folk making (what is it?) more than $90,000 (is THAT the cap? - nah, it's $87,900) that get a break.

 

[almifkhar]

he is simply trying to starve us all out. privatize this and privatize that. schools, social security, military, our banks, whats next? i think the question we should be asking our leaders is why???? my biggest question on this social security privatization scham is this, what if i chose not to have my money on wall street, will i still have to pay into this?

 

[Unes]

Folks, Will the employers pay their share of Social security to the private accounts? or they will be relieved from that obligation?

May God bless us all,
Unes