The Mudcat Café TM
Thread #75554   Message #1331977
Posted By: Bev and Jerry
19-Nov-04 - 01:43 AM
Thread Name: BS: 'Reforming' Social Security?
Subject: RE: BS: 'Reforming' Social Security?
Social Security is not, and never has been, an "investment". It's a system in which working people put money into a fund and retired people take it out.

Since its inception back in the thirties, the demographics have changed dramatically and more is going out than is coming in. Bush, once again, presents the false dichotomy of fix it his way or let it go broke. Remember "you're either with us or against us"? There are numerous other possibilities.

One is to slowly force working people to continue conributing to the plan but to also provide for their own retirement in private accounts, a system which would screw people not yet collecting and would, ultimately, end Social Security.

Another is to make small adjustments to the rate of contribution, the maximum income taxed, the age of retirement, the amount of benefits and other parameters so that the system would sustain itself for at least a hundred years. There are many existing plans of this nature.

But Bush has once again received "bad intelligence" and would have us believe that his way is the only way. What's worse is that he'll probably get his way.

Bev and Jerry