Bush says, "privatize social security'

[jbm]

we say, "remove the guarantees from social security" and we need to say it now. That leaves them with the long explanations while they try to convince people that the our meme is incorrect.

I have been saying 'remove the guaranty from social security" all day, and the two times I was given an opportunity to elaborate I said, we socialize to provide equal and guaranteed access..like with the post office and law enforcement. You privatize to create profits, and creating profits means taking risks, and taking risks means someone will lose. Rich people don't take risks, so the poorest and most vulnerable will lose.

The reactions have made me very happy. We need to get the jump on every one of their issues and make them explain it. Spread the word that we're removing the guarantees.

[dave502d]

1. Well, no more social security.

[Cleita]

2. Even though they think they are in power to rob us, they

are still our elected officials so we have to pressure them to do what we want them to do. We are the mob. They should fear us because we are many to their numbers. Time to organize into coalitions for our pet issues. We cannot let them privatize Social Security and we have to convince those who think it's a good idea what a bad idea it is, so that the BushCo position starts looking bad to everyone.

[caseandpoint]

6. ???

you say you want to get the message that it's a bad idea...i want to know why everyone thinks it is bad? i guess i thought that privatization would give more control over your individual SS dollars and how they are used. i dunno, that's what I have heard.

if that's wrong, I want to know what you say is the definition of privatization.

[Cleita]

7. It drains money from the fund.

It will weaken it until it doesn't work anymore and that's what the plan as crafted by Newt Gingrich is aiming for. IRA's do a great job of retirement savings you can control yourself. SS needs to remain like it is. On the other hand you will end up supporting your old granny and it will be a lot more expensive that what they take from your salary in SS. Believe me. It's a better deal for everyone. Don't touch it.

[caseandpoint]

8. i don't get how the plan weakens it...

I have seen some of the numbers, and they look like they add up.
can you show me numerically how controlling one's own social security dollars weakens it?

[Cleita]

9. For one thing, the average person isn't sophisticated enough

to invest it any better than the fund itself does. It's just a big windfall for Wall Street. Also, do yourself a favor and look up what the dollars a sixty-five year old person would have saved from 1960 on up to today. Remember those funds are capped and back then it was capped at $7,000. So 7% of $7,000 isn't a whole lot in today's money. Those dollars aren't worth what they were then and the savings just won't cut it for a secure retirement system.

If you think this is a good idea, you are a sucker for a corporate scam, because SS needs to be collected in today's dollars to be distributed in today's dollars, not some get rich scheme concocted Newt Gingrich that won't even keep up with inflation. You can do this with IRAs in addition to your Social Security.

Also SS today is 7.5% from your wages, which is doubled by your employer. If there is a percentage of it being drained for investment, the percentage is going to have to be increased to keep it solvent. So you will be paying more and getting less in the long run.

[wellstone_democrat]

3. Simpler: "Removing the 'security' from Social Security"

gets you to the same place but more memorable.

[jbm]

4. That works!!

Thanks! I'll spread that version instead. :)

[stevebreeze]

5. the point from the conservative elites is to give wall street a cut

of your SS tax dollar. We need to point that out too.

It is also worth noting that SS has no chance of increasing the interest payments for the system as a whole. Of course some will make out but not all or even most.

CEPR Challenges Privatization Advocates on Projected Stock Returns
Link here...http://www.cepr.net/Social_Security/stock_returns_challenge.htm