Re: Bush to phase out Social Security in 2007 if GOP keeps Congress

El Castor wrote:

Thumper <jaylsmith@xxxxxxxxxxx> wrote:


On 11 Sep 2006 06:45:01 -0700, "California Poppy"
<GoldenStatePoppy@xxxxxxx> wrote:


bigbob wrote:

Bush wants to renew Social Security push after vote
Sat Sep 9, 2006 2:59 PM ET

WASHINGTON (Reuters) - President George W. Bush hopes to revive his
plan to overhaul the U.S. Social Security retirement program if his
Republican party keeps control of the Congress in the November midterm
elections, the Wall Street Journal reported on Saturday.


I certainly hope this is true. Social Security overhaul is long
overdue. It has become so different from what was envisioned by
Roosevelt as a temporary help to tide people over to taking care of
themselves.

That is NOT what Roosevelt envisioned.


Roosevelt didn't envision people living, and collecting, well into
their eighties and a Social Security system headed for sure and
certain bankruptcy. If Democrats don't like Bush's plan, and I don't
much care for it myself, they should come up with their own plan.
Unfortunately, it's much easier to be against something than it is to
offer a solution that is inevitably going to piss someone off.


You don't know what Roosevelt envisioned. The only thing you Do know is that for however long, Social Security was considered to be, and still is considered to be a floor source of income as an alternative to poverty. Nothing more. THAT is the ONLY thing that Roosevelt envisioned it to be, and that is what it is now.

Regardless of the longevity of people, if Social Security was funded properly, it would be solvent now. But it wasn't, isn't and there are no plans to make it so. and rest assured, when the Democrats regain power, they'll come up with their own plan. You won't like it, but it will fix the situation. Unfortunately, as most of you reactionaries don't understand, there's no such thing as a free lunch, and tax cuts have to be paid for with reductions in services.
.

Relevant Pages

  • Re: Administration: Social Security Fix Will Require Combination of Benefit Cuts and Tax Increases
    ... The Bush administration said Monday the only way to permanently fix ... Social Security is through some combination of benefit cuts and tax ... currently exists can significantly reduce the anticipated deficit. ... In fact, every GOP-led plan I've seen involves exposing funds, in one ...
    (soc.retirement)
  • Re: Administration: Social Security Fix Will Require Combination of Benefit Cuts and Tax Increases
    ... Social Security is through some combination of benefit cuts and tax ... The Bush plan killed in 2005 *did* involve reinvestment in the private sector. ... In fact, every GOP-led plan I've seen involves exposing funds, in one way or another, to the private equity markets. ... The problem with the approach is that if you route a % of the SS taxes to private markets, you're NOT routing them to the general fund, where they're needed to offset the deficit. ...
    (soc.retirement)
  • Re: Administration: Social Security Fix Will Require Combination of Benefit Cuts and Tax Increases
    ... The Bush administration said Monday the only way to permanently ... to screw up the Social Security program. ... In fact, every GOP-led plan I've seen involves exposing funds, in one ... offset the deficit. ...
    (soc.retirement)
  • Re: Administration: Social Security Fix Will Require Combination of Benefit Cuts and Tax Increases
    ... Social Security is through some combination of benefit cuts and tax ... The Bush plan killed in 2005 *did* involve reinvestment in the private sector. ... In fact, every GOP-led plan I've seen involves exposing funds, in one way or another, to the private equity markets. ... The problem with the approach is that if you route a % of the SS taxes to private markets, you're NOT routing them to the general fund, where they're needed to offset the deficit. ...
    (soc.retirement)
  • Re: Refresher Course on Social Security
    ... this is based on the simple fact that social security does not have the money to meet the promises it made, and someone at some future time is going to pay the price. ... If we take that as a given, then it becomes a matter of what is the best way, with the least amount of pain to both the people who contribute to the plan, and those who will eventually become the beneficiaries of the plan. ... Government, Wall Street, or some combination thereof? ...
    (soc.retirement)