Snow: People Need Better Grasp on Social Security Issue

[Rose Siding]

Touting President Bush's proposal to substantially overhaul Social Security by creating private investment accounts, Treasury Secretary John Snow on Friday vowed to "take the case to the American people."

"We won't get good success ... in the Congress until the issue is well understood abroad in the land," said Snow, talking to reporters after a White House meeting on a separate initiative to simplify the U.S. tax code.

Snow said there would be town hall meetings, presidential speeches -- including the topic being a major piece of Bush's inaugural and State of the Union addresses -- and travel by administration officials. Bush's plan has encountered opposition from Democrats, the AARP and even some in his own party.

Snow also said that he is going to Wall Street next week, for instance. The administration has been dispatching officials to New York to address concerns in the financial industry about borrowing $1 trillion or more to help fund the overhaul to make way for personal investment accounts.

"As we get those fundamental facts understood, we'll build broad-based support for the changes that are called for," Snow said.

http://www.washingtonpost.com/wp-dyn/articles/A56179-2005Jan7.html?nav=rss_politics

If he can *just* explain it to those American people on Wall Street! BIG sigh.

[chomskysright]

1. here ya go: 10 reason why Bush's plan sucks

TEN REASONS WHY PRESIDENT BUSH'S PLAN FOR SOCIAL SECURITY IS A BAD IDEA

1. WHO WANTS THE CHANGE? Wall Street wants privatization in order reap a windfall profit. Everyone else should be very suspicious. If the stock market goes down, your benefits go down.

2. WHY DOES WALL STREET WANT THE CHANGE? In the background, beyond private accounts, are various proposals to cut guaranteed Social Security
benefits in the future.

3. BUT WE WILL NEVER HAVE ANOTHER DEPRESSION AS IN 1929: wrong: In 1973-74, the stock
market lost 48 percent of its value. The stock market is a very dangerous place to put money

4. WHO DOES NOT WANT THE CHANGE? AARP, the nation's largest seniors organization, is coming out
strongly against President Bush's plan to allow private individual accounts
within Social Security.

5. HOW MUCH WOULD IT COST TO PRIVATIZE SOCIAL SECURITY? transitioning to private accounts could cost $2 trillion.

6. WHERE WOULD THAT MONEY COME FROM? our taxes will have to be increased to make Bush's proposed plan work.

7. HOW EFFICIENT IS THE SOCIAL SECURITY SYSTEM NOW? More than 99 percent of Social Security's revenues go toward benefits, and less than 1 percent for overhead.

8. OTHER COUNTIES MUST HAVE SOCIAL SECURITY AND MAYBE THOSE ARE BETTER? wrong: Chile's system, management fees are around 20 times as high. A privatized system will take money from your Social Security check.

9. SHOULD YOU BE WORRIED THAT YOU WILL NOT HAVE SOCIAL SECURITY? Nothing is going to change, in terms of benefits, for people near your retirement age.

10. WHO TAXED SOCIAL SECURITY TO BEGIN WITH? Ronald Reagan, a Republican, began the taxation on Social Security in 1983.

There is no Social Security crisis, just as there were no weapons of mass destruction. Social Security has provided a lifeline to millions of Americans with
millions of checks, and in more than 60 years has never missed a payment—and this track record can continue. Social Security is basically a sound system
that can meet 100 percent of its obligations for the next 39 years, and with responsible changes it can continue to do so indefinitely

[Just Me]

6. Ask the American people if they want "feudalism",...

,...ask them if they wanna' go back to a medieval period where the very rich USE the masses to keep 'em rich, to expand the elite's power, to maintain the masses in perpetual serfdom (an economic slavery).

I seriously doubt the American people would exclaim; "Hell, yeah,...that's what we want. BRING IT ON!!!"

*sigh*

Can you believe the wheels of history are in a new 5th gear reverse?!?!

[VegasWolf]

19. Isn't that exactly what we have now under "capitalism"? A

hierarchial society is only possible when the majority
are kept ignorant and powerless. Let them vote for
hand-selected candidates so that they feel empowered.
Give them more credit card debt so that can work harder.

[calimary]

2. Why don't they just pay Armstrong Williams to shill some more for them?

What's another 240-thousand bucks out of YOUR tax money, anyway? Hey, he's wide open to it. Probably something he already believes in, anyway! And he's already on the payroll so it'll be simple to get this rolling.

Besides, at least you'll know the identity of the individual high-income tax cut recipient to whom it'll be going, instead of just a faceless, nameless group of millionaires.

[Sandpiper]

3. Sure John, just tell the people the truth about privatization

Tell them that:

-We'll have to borrow 1 trillion dollars to get it started

-Current beneficiaries and near future beneficiaries will have their benefits reduced

-The investment banks and portfolio managers will reap the biggest financial rewards


What are you afraid of? That they'll recognize this crap for the snake oil that it is?

[noamnety]

4. This is great!

I want more of my tax dollars going to advertising the administration's policies, and less going to social programs, please!

Maybe we can even borrow some money from the SS fund to pay for their lodging and airfare while they travel around telling us how the fund doesn't have enough money anymore.

[chomskysright]

5. letter to Snowe w/ her e mail address: [email protected]

January 7, 2005

Dear Senator Snowe:

People say you are smart and listening. We will not swallow this privatization of Social Security.

The President is a liar, a tax-dodger,

January 7, 2005

"......In their letter to President Bush, the Lawmakers cite federal laws that prohibit taxpayer funds from being spent by the Executive Branch for “Covert Propaganda”.

“In addition to the illegality of these actions taken by your Administration, we believe that the act of bribing journalists to bias their news in favor of government policies undermines the integrity of our democracy. Actions like this were common in the Soviet Union, but until now, thought to be long extinguished in our country,” wrote the lawmakers in their letter to President Bush sent today....."

war-mongering, narcissistic kind of guy.


Do not underestimate how closely we are following every move of Congress and Bush. If you want to see, go to democratic underground. We no longer watch TV; we will not be out-foxed by Sinclair.

[Just Me]

9. Okay. I'm next.

Dear Senator:

You have notice that there are American citizens who are keeping a record of what is happening under this administration.

We know about:

- the Plan for a New American Century and how closely this administration is following that aggressive, imperialistic plan

- the OSP which "filtered" intelligence for purposes of advancing unilateral government policies

- the "covert government propaganda" that has been imposed upon the American people via a variety of means: military, media and "infomercials"

- the funnelling of public wealth into private military and corporate hands which are "constituents" of this administration (including the "Carlyle Group", "Halliburton", and many others)

- the conspiracy to cover-up violations of both US laws and the Geneva Accord against torture and other war crimes

- the consistent INTENTIONAL misrepresentation of facts by this administration from domestic realities to global tragedies.

WE ARE WATCHING. WE ARE RECORDING.

Are you?

We have a passion for both "the people" and "democracy". We are witnessing this administration impose a death sentence to both. We didn't choose this fight,...but, we do choose to fight back!!!

I just want to put you on notice. I hope you will join us,...and take a stand for both "the people" and "democracy".

[tanyev]

25. I'm having an Emily Litella moment.

Isn't the article about John Snow, the Secretary of the Treasury??

[kodi]

26. if so we better not discuss the deaf penalty

yeap, the article was about sec tres. snow, not the senior senator from maine

[mcscajun]

7. "We won't get good success..."

"Good" Success?

As opposed to Bad Success.

Good lord we're all doomed. I knew it already...y'all knew it already...but damn if we don't get it hammered at us every day what kind of malicious fools are running this show.

[Rose Siding]

8. That's opposed to "catastophic success"

And you know why? It's...hard.

[mcscajun]

16. It's hard...hard work...

...mangling the English language and Screwing America at the same time.

[fearnobush]

10. Better grasp on SS issue: Simple - Snow: were gonna steal it.

And there is absolutely nothing you can do to stop us.

DU - Do you really want the ENRON Administration handling your retirement funds?

[Just Me]

11. Do we want the "LIE" to get investors we can "PROFIT" from, then abandon,.

,...profiteers handling public wealth (let alone any "private" investor which HAS BEEN PREVIOUSLY DECEIVED AND ABANDONED)?

These people are predatory profiteers and will sell humanity to make a buck!!! There is NOT a humanitarian or "pro-life" bone in their entire make-up!!!

They are simply an "evolved" master spending human lives.

[Massachusetts]

12. "well understood abroad in the land."

Unfortunately 50% of the people in this "land", are to Moronic to do some investigating of their own, and come to the conclusion that THERE IS NO CRISIS WITH SOCIAL SECURITY.

[flordehinojos]

13. how AND HOW MUCH is Secretary Snow being paid for touting bush's line on

social security. If Armstrong Williams was paid almost 1/4 of a million dollars HOW MUCH is Sec. Snow being paid -- and i don't mean his salary.

[OhioBlue]

14. I would like to see some liberal 527's

get out in front of this issue - the * cartel is obviously planning a media blitz. We should get out in front of them with a media message that states the facts and warns the American Public that a media blitz to sell the idea is on the way. If anyone knows if any 527's have this plan, I would be happy to donate.

[necso]

15. "People Need Better Grasp on Social Security Issue"...

I can agree with that much.

But a "better" understanding is not what the neocons are looking for. Dismantling Social Security (and everything remotely related to the New Deal, progressive policy, social programs, etc) one step at a time -- and throwing out all those pesky "iou's" (but not the ones held by the Chinese or Japanese, or the wealthy) -- now that is what the neocons are looking for. And in order to accomplish this, the neocons need to pound a slanted and distorted viewpoint into people's heads. Unfortunately, the neocons have a long head start on it, since they have been putting forward for many years the nonsense that most people would never receive the benefits of the program.

The propaganda campaign is, however, clearly taking on a new intensity and a new scope. And although it promises to be a tough fight, we need to stand like a rock on this issue (privatization). It is tip of the wedge and a must win.

[Walt Starr]

17. So who are they going to pay $240,000 to push this SNOW JOB?

Armstrong Williams has been outed.

Which members of mediawhoredom are they going to pay to push this fucked up agenda?

[hollowdweller]

21. Who are they GOING to pay?? Who have they ALREADY bought??

[MichiganVote]

22. Got that right. Next available Bushwhore for lies?

[Larkspur]

18. Snow is going to Wall Street to get them to fund TV ads to LIE to the

American people about SS Privatization.

[iamjoy]

20. How Come No One Asks...

OK - I work for a company that does Benefits Administration for
401(k) plans. We are not financial advisors. My company is paid a flat fee by the clients, the client's employees call us. We in the Call Center are hourly and couldn't care less which fund our customers pick. We don't get incentives or commission.

People call us up and really have no idea how to invest their money. Some of them don't make a lot, and are really worried about losing money. And some of them are so confused! Since I'm not a financial advisor, I can't give any sort of opinion. But I can tell them what is available in their plan, and how those funds have performed.

Investment funds have fees. Now, with a 401(k), the company pays some of these administrative costs.

With private social security accounts, who are people going to call to find out what investment options are available? Who is going to pay the fees for the fund managers? Add to this that some financial advisors fail in their fiduciary responsibility because they work for an investment bank that is trying to raise money through the sale of shares in a particular stock or fund. Or, these financial advisors charge fees that lower income people could not afford.

But, what do I know?
:shrug:

[leesa]

23. No. We understand what's going on alright. It's called theft.

[Kimber Scott]

24. Did somebody say "mushroom cloud?' Oh wait, that was year before last's

bullshit this is new bullshit.