Re: Bush's Retirement Plans

On Sep 10, 10:13 pm, "Thomas A Jones" <tajone...@xxxxxxxxxxx> wrote:
Harry-I'm all for saving it.....what basic ideas do you propose (please
don't tell me through tax increases)...

In a previous post you said, "The ones who will destroy social
security are the ones who advocate doing nothing to fix it." Then I
ask you to tell me who those people were and you never responded. So,
I'm still waiting for your answer.

I'm always amazed at how Republicans don't seem to care at all about
the trillions of dollars Bush has added to the deficit, but will
scream bloody murder at a tax increase. Republicans like to believe
there's a free lunch, but there isn't.

Here's the way to fix Social Security from a post I made some time
ago:

Step 1. We need to get the money back that the GOP took from the fund.
This can be done by rescinding the tax breaks Bush gave to the rich
and applying the proceeds to the SS fund until the money is restored.
Establish a "locked-box" system after funds are recovered.

Step 2. The retirement age (unfortunately) needs to be raised
significantly. This could be phased in slowly with the final
retirement ages at:

Age 66: Early Retirement with reduced benefits.
Age 70: Regular retirement age.

Step 3. Bring newly hired state and local employees into the SS
system.

Step 4. Eliminate the cap on Social Security taxes.

Step 5. Allow SS to phase in 40% or 50% investment in equities.

Those 5 steps would probably make Social Security solvent for hundreds
of years, if not forever.



"Harry Thompson" <m...@xxxxxxxxxxx> wrote in message

news:MZbFi.12$Oq6.6@xxxxxxxxxxxxxxx



Uh oh. T. Jones is back. Another assault on Social Security will begin.

T. Jones joins this newsgroup only when Social Security is about to be
saved.

He will explain to us that those trillion plus dollars in treasuries are
worthless IOUs. He will also explain to us the miracle of compound growth
if only we invest our FICA taxes instead of putting them into those IOUs.

So our saviors will kindly take those worthless IOUs off our hands and in
return we will get a miracle.


.

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