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Superbelt · 12-16-2004, 04:22 AM

We have all heard by now about Bush's plan of Social Security 'reform', right?
His plan is to take the system and instead of having younger americans pay into the system, allow them the option to use that money in private investment accounts.
If his plan goes through, Social Security as we know it is completely dead and it will eventually be 100% personal investment. The number of people who decide to go for the new plan will force everyone else to pull out of the Social Security network as well. Why? Because there will be no more solvency, the people who are left will be unsustainable (as the richest americans who pay around 88k for the system will definetley pull out) It will be foolish to try and stay there and just wait for it to permanently crash.

Anyway, that is only one small part of the problem. The real problem is Bush trying to turn SS into something it's not. SS is one leg of a 3 legged retirement stool for americans. The absolute stability and assurance of SS payments is supposed to be 1/3 of your retirement. Personal investment is another 1/3 and your company retiremet plan is the other 1/3.
Only SS's 1/3 is guaranteed. Bush's plan will make sure none of it is.
The whole reason behind SS is as a safety net to make sure something like the Depression wiping out everyones retirement security can't happen again.

Also, doesn't anyone else want to tear their hair out at Bush's proposal to borrow 2 trillion dollars to pay for the transition of this? BORROW, not raise the money. Just proposing it warrants us to lynch him and shove pvc pipe up his ass so we can cauterize his intestines with a red hot poker (a' la King Edward II). Why isn't the whole of america completely up in arms at the mere chance that he could raise our national debt that high with one fell swoop?
What is so anathema about raising taxes to pay for things you buy? The money is going to have to be paid eventually anyway, why put it off for decades, only to see it become an even more gargantuan hurdle for me and my children to pay for? Why does Bush appear to have no more financial responsibility than a college freshman who just signed up for six new credit cards?

12-16-2004, 04:22 AM	#1 (permalink)
Superbelt This vexes me. I am terribly vexed. Location: Grantville, Pa	Bush's Social Security plan: Insanity? We have all heard by now about Bush's plan of Social Security 'reform', right? His plan is to take the system and instead of having younger americans pay into the system, allow them the option to use that money in private investment accounts. If his plan goes through, Social Security as we know it is completely dead and it will eventually be 100% personal investment. The number of people who decide to go for the new plan will force everyone else to pull out of the Social Security network as well. Why? Because there will be no more solvency, the people who are left will be unsustainable (as the richest americans who pay around 88k for the system will definetley pull out) It will be foolish to try and stay there and just wait for it to permanently crash. Anyway, that is only one small part of the problem. The real problem is Bush trying to turn SS into something it's not. SS is one leg of a 3 legged retirement stool for americans. The absolute stability and assurance of SS payments is supposed to be 1/3 of your retirement. Personal investment is another 1/3 and your company retiremet plan is the other 1/3. Only SS's 1/3 is guaranteed. Bush's plan will make sure none of it is. The whole reason behind SS is as a safety net to make sure something like the Depression wiping out everyones retirement security can't happen again. Also, doesn't anyone else want to tear their hair out at Bush's proposal to borrow 2 trillion dollars to pay for the transition of this? BORROW, not raise the money. Just proposing it warrants us to lynch him and shove pvc pipe up his ass so we can cauterize his intestines with a red hot poker (a' la King Edward II). Why isn't the whole of america completely up in arms at the mere chance that he could raise our national debt that high with one fell swoop? What is so anathema about raising taxes to pay for things you buy? The money is going to have to be paid eventually anyway, why put it off for decades, only to see it become an even more gargantuan hurdle for me and my children to pay for? Why does Bush appear to have no more financial responsibility than a college freshman who just signed up for six new credit cards?