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Old 02-04-2005, 10:08 AM   #38 (permalink)
KMA-628
....is off his meds...you were warned.
 
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Location: The Wild Wild West
First: my thanks to Kadath, that was refreshingly surprising.

Anyway, I found this and thought it very interesting: LINKY

Quote:
"In the important field of security for our old people, it seems necessary to adopt three principles: First, non-contributory old-age pensions for those who are now too old to build up their own insurance. It is, of course, clear that for perhaps thirty years to come funds will have to be provided by the States and the Federal Government to meet these pensions. Second, compulsory contributory annuities which in time will establish a self-supporting system for those now young and for future generations. Third, voluntary contributory annuities by which individual initiative can increase the annual amounts received in old age. It is proposed that the Federal Government assume one-half of the cost of the old-age pension plan, which ought ultimately to be supplanted by self-supporting annuity plans."

MESSAGE TO CONGRESS ON SOCIAL SECURITY- January 17,1935
(This message transmitted the Administration's legislative proposal to Congress. Note that the original proposal included a third system of voluntary annuities [like IRAs] as a supplement to Social Security. This aspect of the Administration's proposal was not adopted by Congress. It is also interesting to note that the President clearly intended that the Social Security program, supplemented by voluntary annuities, would eventually eliminate the need for welfare programs for the elderly.)
It seems that the SS program we have today is not the one originally intended by FDR.

It is especially relevant in that there is a media event involving the Democrats and the FDR memorial recently regarding their opposition to privatization.

Invoke the memory of the founder of the system by disregarding his stated wishes?

In all fairness, this is not proof that privatization needs to occur, but it does bring into the discussion that it was an ultimate goal for the plan.

I am getting the impression that FDR actually thought about the ever-increasing number of retired people and ways of protecting his baby.

In regards to some of Pelosi's comments on the matter: note the word supplement, not add on.
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