Bush: Americans Ready to Invest S.S. Funds

[UpInArms]

http://story.news.yahoo.com/news?tmpl=story&cid=544&e=3&u=/ap/20050504/ap_on_go_pr_wh/bush_social_security

President Bushsaid Wednesday that private investment accounts created from Social Security payroll taxes is an idea whose time has come as more Americans are comfortable with putting their retirement funds in the market.

Bush told the Latino Small Business Economic Conference that "people from all walks of life" are investing in 401k retirement accounts offered by their employers.

"I went down to the Nissan plant in Canton, Mississippi, (Tuesday) and it was a very diverse audience, a lot of assembly line workers," Bush said. "And I said, `How many of you all have got your own 401k?' I mean, the number of hands that went up was astounding."

...more...

:banghead:

[Roland99]

1. Even newer math? 401(k) == Social Security???

:scared:

[Cha]

22. bush is a lying sack of shit..

rove is still looking for the best lie to come up with that will maybe get everyone to give them their SS money so they can hand it over to wall street.

[lancdem]

28. Scary isn't it

What the hell do 401(k) plans have to do with Social Security?

[susanna]

77. Nothing.

Once upon a time, workers received defined pensions (like today's Social Security) until the corporations figured out they could "outsource" their employees' financial futures to, uh, the 401(k). So now * is trying the same tactic.

[CottonBear]

2. CottonBear: We already have private accounts. Hands off my SS!

:grr: Jesus Christ on a trailer hitch! He's a stubborn bastard.

edit: Note the contradiction in just this one phrase :
"...it was a very diverse audience, a lot of assembly line workers..."

[BR_Parkway]

31. That's to let us know they didnt prescreen ALL the Democrats out

There was probably a Zell id'd by management who was allowed to go, and gush and practically have a 401gasm right there on cue.

They MUST take the money and feed Wall St to keep everything propped up, more and more are retiring and making withdraws from their 401K and IRA's instead of putting in. They've been able to delude roughly 1/2 the nation into thinking their trickle down BS was working as long as the cash kept flowing, but the corporations know the money is about to tighten up, that's why they're pushing so hard for this and also taking such obscene record profits in spite of the backlash it's going to cause. In a couple more years (or less) there won't be enough cash flowing cheaply to be able to do it then.

Low rates = massive profit taking = higher stock price = management cash out on the stock options while inflated = rates rise due to poor cash flows = prices drop = fuck the little guy

[librechik]

3. I would like to take my SS fund and invest it

on getting rid of Bush and his greedy Wall Street cronies. Any suggestions where I can do that?

BTW, leave my 401K alone too, you lying freak!

[rodeodance]

5. yesterdays paper said the plant was non-union--of course he went there.

.....very diverse audience, a lot of assembly line workers,"

[Ksec]

40. The Rethugs are out of touch with America

and this proves it.

[liberal N proud]

4. Because most working Americans have a 401K that translates

to a desire to have piratized social in-security accounts HOW?

[rodeodance]

6. his comment is a direct attempt to confuse the issue--

[rodeodance]

8. a head line such as this is dangerous-as people will start to believe

the claims that Bush makes--just repeat it over and over--

[Ganja Ninja]

11. That's how it's done.

Lie, lie, lie and lie some more. Produce some bogus poll numbers to back up the lie. Then do exactly whatever is is you want to do and claim the public approves.

[Avalux]

7. LIAR

MOST Americans are not ready to gamble away their SS in the market. He just makes this shit up and NO ONE calls him on it. :banghead:

[CottonBear]

9. What? You didn't get the memo RE: Don't call * on anything.

:grr:

[losdiablosgato]

17. My dad, my brother and his wife all want to have the private accounts

Why I do not know but they do.

[JRob]

24. Perspective!

It seems to that "W" is attempting to exploit the culture of "whatever's good for me" (regardless of whether is actually is in the long term or not) and generally people are too lazy to sort through the facts for themselves...

Others are so determined to "belong" that they'd eat shit and say it's tasty if Bush said so.

I too am surrounded by ignorant Republicans (on both side of my family) who believe they are right simply because they're in power and there's no debating it. The crap they buy into baffles the imagination...

[Avalux]

39. Explain to them (if they'll listen)

The percentage set aside for their private accounts is subtracted from their SS withholdings; the % their employers match will be the amount left over - it's a HUGE windfall for corporations and businesses. Your family gets to risk their security on the stock market while the SS fund shrinks and benefits are cut; corporations win again.

Do they somehow think they'll get rich off the private acounts?

[valis]

55. Exactly. If they are LUCKY they'll get what they would get with SS

Statistically, LUCKY is not the average outcome by definition.

[losdiablosgato]

83. Here is the rub

My brother's brother in law works for Galveston County. They have private accounts for a good number of years and he says and I heard it on the local news that they will make more from those accounts then they would from social security. GWB even was on the news pushing them down here last week. That is one of the reasons they support it

[roseBudd]

46. ask them how they feel about paying the debt on the transition costs

For every $1 invested, subtract a $1 from SS benefit plus 3%

[Toots]

54. Ask them if they think this is a new idea, why SS was created in 1st place

And exactly what the word Security means in English language. :crazy:

[sinkingfeeling]

10. If they have 401Ks, why do they need SS accounts? Isn't it clear

that little Bush's plan is solely to kill SS?

[Name removed]

12. Deleted message

Message removed by moderator. Click here to review the message board rules.

[TahitiNut]

25. In other words, the people who benefit MOST from Social Security.

:eyes: Social Security ... the system that relieves those people from having to support their parents and grandparents without help, and the system which will replace a far greater percentage of THEIR income than that of the person who earns the maximum.

[Name removed]

41. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Straight Shooter]

45. I'm willing to support everybody else's parents

These are the people who taught me in school, these are the people who were my nurses in the hospital, these are the people who volunteered their time to beautify the community, these are the people who gave up better-paying jobs to be in the service sector instead of the serve-myself-first sector.

Their taxes paid to upkeep my roads, to pay for my public education, et cetera, et cetera, et cetera. You bet I'm willing to help support everybody else's parents.

But then again, maybe I'm more compassionate than Little Boots and his band of merry thieves.

[Kathy in Cambridge]

47. What about social security for those with disabilities?

Maybe we should just let them live on the streets. :freak:

[Horse with no Name]

79. Don't forget all the elderly in the nursing homes

for whom the majority of their housing currently relies on state supported Medicaid payments.
When the Medicaid is gone, and the Social Security checks are gone--what will happen to these folks?

[daleo]

56. Are you planning to support your own parents?

And be supported by your kids in your old age?

[TahitiNut]

64. Why am I not surprised this is now "Name removed"???

:shrug: R.I.P.

[grytpype]

13. what a dumbshit.

Workers can afford to gamble in their 401k accounts because they have a guaranteed Social Security benefit.

There are three components to retirement security: Social Security (the guaranteed portion), private pensions and 401ks (risky), private savings (also risky due to inflation).

Bush is too fucking dumb to know the difference.

[susanna]

78. ...that was my point in an earlier post about "private" pensions.

Many corporations have axed the private pension altogether and left their employees with NO CHOICE except a 401(k). People take what is offered, especially where employers match funds. That is the reason the 401(k) is so widespread, if * ever bothered to investigate the matter...

[LiberallyInclined]

14. Americans Ready for Bush to take Long Walk on Short Pier...

how do you fit so much hutzpa in such a scrawny body?

only 3 3/4 years of this crap left.

[shadowknows69]

15. it makes me hot when georgie speaks for me

FUCK YOU CHIMPEROR NOT WITH MY MONEY.

[JRob]

26. ...it makes me hot whenever he speaks!

[erichzann]

16. Americans ready? Really? Have you looked at polls lately George?

People hate your "plans."

[ernstbass]

18. Are you deluuuuusional Mr Bush?

Remember when Strom Thurmond grilled Anita Hill? Chimpie needs the same question in his face!!

[ananda]

19. what planet in what universe..

.. is Bush living on?

Does he ever deal with reality at all?

Sue

[JRob]

20. Which people?

Exactly which people his he referring to? Poor people, minimum wage people, the 50% of the country that doesn't vote or pay attention to politics for any number of reasons like try to scrape together enough money to feed their children?

Why isn't this entire sociopathic administration being prosecuted for fraud, murder and abuse of power?

If there is a God why hasn't he fried these guys where they stand?

[insane_cratic_gal]

21. He's such a Bully

he has short man complex, and stupid head ontop of it.

[FreedomAngel82]

23. Is he in la-la-land?

Didn't he see the most recent poll numbers? Nobody likes his plans unless they're greedy bastards. He's such a fucking moron. God I hate him. :banghead: :rant:

[skip fox]

27. AND he's still optimistic about Bolton, DeLay, and Schivo!

:toast:

[UCLA Dem]

29. Shut up already!! Its not going to work!!!

[goodboy]

30. not me. (nt)

[Massachusetts]

32. Hey Bushie, this ones for you...sit on it

[The Backlash Cometh]

33. He's so out of touch. It's sad, really.

[shantipriya]

34. Bush & SS

How the hell does he know? I guess same way he knew about the WMD!!!

[magellan]

82. Yeah, his faulty intelligence!! LOL (nt)

[killbotfactory]

35. Shiavo visits him in dreams and tells him things like this

Hail Jesus, it's a miracle.

[wicket]

36. THEN WHY NOT CREATE A PROGRAM SEPARATE FROM SS???

God what an idiot, he wants to destroy SS, not save it.

[killbotfactory]

37. But the democrats have no answers!

Even if action is worse than inaction, we must act!

Wait...

Did I get the talking points right?

[wicket]

38. LOL!

:D

[Miss Chybil]

49. We already have a program... it's called a 401k.

The very program he's trying to hijack and call Social Security! This is where the Dems need to step up.

"Yes, we encourage people to save money through 401ks, IRAs, personal savings accounts, etc.. Those 'plans' are already in place. We don't need more 'plans.' We simply need to raise the cap on the amount of money that is taxed for Social Security from 90k to (insert correct number here.) This is not a crisis. It's very simple to fix. Destroying Social Security to save it, is as ludicrous as telling poor people they have the "right" to save money for their medical care. Another ridiculous Bush 'plan.'"

[Vickers]

42. So, the non-union Nissan plant represents American's desires?

Man, he's a regular Elasti-Boy when it comes to stretching the truth to fit his needs. :eyes:

[Megahurtz]

43. OH SURE!

Everyone is just dying to fork over the "rent money" to your bogus stock market scam, during a fucking war no less! Just to make you and your buddies RICH!
You LIAR!!!:argh:

You're just manipulating the news and the numbers so that it "appears" to the public that everyone now agrees with your thieving scam just so that the weaker citizens will fold!
CON ARTIST!!!:argh:

:rant:

[HockeyMom]

44. Not my 20 something daughters

My 21 year old daughter called it gambling and my 26 year old called it making Wall Street Stock Brokers richer.

[Miss Chybil]

48. I can't take it anymore. I just can't take it.

:banghead:

[chalky]

50. Hey! Dumbass!!

"I went down to the Nissan plant in Canton, Mississippi, (Tuesday) and it was a very diverse audience, a lot of assembly line workers," Bush said. "And I said, `How many of you all have got your own 401k?' I mean, the number of hands that went up was astounding."


Do you know why so many people in your "diverse audience" of "a lot of assembly line workers" raised their damn hands when you asked that?

BECAUSE CORPORATE AMERICA EITHER TOOK AWAY THEIR PENSIONS OR CONVERTED THEM TO 401Ks, ya MORAN!

If he thinks these people just looked up one day from their sloppy joe at lunch and thought "I think I'll risk my future on the stock exchange," he's out of his freaking mind!

[Megahurtz]

53. Hahahahahahaha!!!

:rofl:
See what a lying, thieving, manipulating scam artist the Busheister really is?

[SalmonChantedEvening]

51. "See.. Folks like pizza..."

"An an pizza, well it's a pie - comes in slices. I want Murka to take a slice of that pizza ... no extra toppins now heh hehheh heh and set it in the hands of these friends of mine. They like pizza too mmm mmm yum... but they wont eat it - what I mean is they won't eat all of it... just nibbles heh heheh, and and when they're done nibblin ... you kin have that tasty crust all to yerself!! An and the the great thing is... you get ta pay the bill for them eatin yer slice!!"



Whatta :dunce:

[LynnTheDem]

52. ROTFLMAO!!! Someone call the men in white coats!

"And he -Saddam- wouldn't let the weapons inspectors into Iraq" said bush.

While the UN weapons inspectors were in Iraq.

INSANE. DELUSIONAL.

[Mari333]

57. Hell NO Im not!!

dont mess with my social security, you fetid bumbling sacks of excrement.

[llmart]

58. Actually, when you think about it........

that wasn't such a bright analogy to use seeing as how most people have lost their shirts in their 401k's since this asshole took office. I take care of benefits and the investment plans at my place of work and the employees are always complaining to me about how their 401k's are losing money like crazy since the Rethugs took over.

[Disturbed]

60. " We live in a world where illusions are sacred and truth profane."

Tariq Ali nailed it.

[Parche]

59. Social Security

When will this jackass acting President get the clue that
Social Security is just that....social and security, administered
by the US Government, it is not a 401K, never has been, never will
be.

[Solly Mack]

61. All that man does is waste oxygen ,occupy space and

wreck havoc

[bvar22]

62. Last poll I saw, 63% Americans AGAINST privitization,

ONLY 31% FOR bush* privitization of SS.

How does that translate into: "Americans ready to Invest SS Funds in Stock market"?


bush* is an OUTRIGHT LIAR !!!!!

[chomskysright]

63. WTF is he talking about? he lives in a narcissitic dream wherein...

he cannot hear anyone else speaking.

[Joey Liberal]

65. Bush is insane

[The_Casual_Observer]

66. Say it enough times and lies replace the truth.

[Geo55]

67. The man has NO shame..........

Ya just want to laugh or cry or BOTH

[Jack Rabbit]

68. It isn't just a river in Egypt, is it?

!!

[LeahD]

69. If you repeat the same lie over and over again, people believe it?

It may have worked in the past for *, but the tide is turning.
He's so delusional. Would someone please shake him by the shoulders and tell him to wake up?!!

[Pirate Smile]

70. Bush Defends Curbing Future Benefits for Some

Bush Defends Curbing Future Benefits for Some
Social Security Plan Aims to Protect Lowest-Paid Workers, President Says

By Michael A. Fletcher
Washington Post Staff Writer
Wednesday, May 4, 2005; 2:57 PM

President Bush pitched his plan to restructure Social Security to a Latino business group today, saying that any alternative to curbing future benefit increases for middle- and upper-income workers would require raising taxes, which would hurt small businesses and slow the economy.

Bush, appearing before a conference sponsored by the Latino Coalition, a public policy group that has applauded him for raising the issue of revamping Social Security, also repeated his contention that his plan would protect the nation's lowest-paid workers by ensuring they don't retire into poverty.

"I believe this country needs to set a goal that says if you've worked all your life and if you paid into the retirement system to Social Security, you should not retire in poverty," Bush said. "To me, that's a noble goal."

Bush added that his plan to allow workers to divert a portion of their salaries into private accounts would help low-income people build wealth and have a greater stake in society. The money workers make through their accounts should more than compensate for the loss in future benefits contemplated by his plan, Bush has said. He added that he has directed several federal agencies to work with Hispanic business groups to help build financial literacy among Latinos to make them more confident about investing in stocks and bonds.

http://www.washingtonpost.com/wp-dyn/content/article/2005/05/04/AR2005050401484.html

[sinkingfeeling]

71. Bush declares the United States of America will be renamed...

The Country of Mine!!

[Trajan]

72. Bullshit ....

By raising the ceiling in FICA taxes, (which businesses DONT pay, WE do) ... MORE than enough revenues can be generated for SS benefits ....

The $88,000 limit is yet ANOTHER tax break for the wealthy ...

And FURTHERMORE: Im sure MOST of us can get behind limiting benefits based on a 'means test', if the test begins at, say: $250,000 per year instead of the POVERTY level incomes that President Asshat has targeted for reduced benefits ....

The only reason Bush and the GOP are interested in SS is to DESTROY it .... They have NO DESIRE to 'fix it' ...

[TheFarseer]

73. I've seen some of the specifics for this plan

and it's a total screw for the middle class. It looks like a screw for the upper class too until you consider they get it back 10 fold in tax cuts for the wealthy.

[MichiganVote]

74. Uh...that would be us, asshole, the citizens of the United States

"I believe this country needs to set a goal that says if you've worked all your life and if you paid into the retirement system to Social Security, you should not retire in poverty," Bush said. "To me, that's a noble goal."

[sam sarrha]

75. but about 78% of the tax cut went to the richest people, only 2%

how could that slow the economy.. they didnt even need the money.

[amber dog democrat]

76. We need to call him on this

Being a con artist and a crook I would expect nothing less than this bunco racket.
If anything has hurt business and the economy, its the Chimp's tax cuts.

Basicaly this is more of the Chimp's class warfare against the middle class

[Daphne08]

80. We're ready for it -- whether we like it or not.

A bit arrogant, I would submit!

[kainah]

81. they've shifted into another gear

and we better be prepared for it. Remember when you thought that he couldn't go into Iraq when world opinion was so opposed to him? Public opinion and good policy make no difference to him. It's all about his own interpretation of reality.

Be ready for new tactics because I am sure they are coming.

[0007]

84. junior is a blathering raving driveling idiot to keep talking stupidly

about Social Security.