Rick Perry Proposes Letting States Opt Out of Social Security

[Joanne98]

Appearing on CNN’s Parker/Spitzer this past week, occasionally secessionist Texas Gov. Rick Perry (R) proposed allowing states to opt-out of Social Security:

“Here’s what I think would be a very wise thing,” he began. “In 1981, Matagorda, Brazoria, and Galveston Counties all opted out of the Social Security program for their employees. Today, their program is very, very well-funded and there is no question about whether it’s going to be funded in the out years. It’s there. That’s an option out there.”

“So, you want to let people opt out?” responded Spitzer.

“I think, let the states decide if that’s what’s best for their cities,” Perry replied.

“So the states will let people opt out of Social Security?” Spitzer asked

“They should,” the recently reelected Texas governor said.

Watch it:

http://thinkprogress.org/2010/11/06/perry-channels-miller/

[jpak]

1. Perry 2012

:evilgrin:

[emulatorloo]

3. He's got a lot going for him for 2012. He's got beautiful hair and he's white.

Chamber of Commerce will have so much fun promoting Perry/Palin 2012

[jpak]

6. and he wants o get rid of Social Security

what's not to like?

[emulatorloo]

2. You've got to be kidding me. Are actual Texas citizens going to go along with this?

Thanks for posting.

[derby378]

4. I sure as hell ain't

Just because Texas Democrats got their asses kicked on Tuesday doesn't mean I have to sit down and STFU.

[Bad Thoughts]

5. It was mentioned in Congress and the Republican Congressmen said no!

They had their chance for an opt-out. They turned it down.

[MrTriumph]

12. Lost 20 Democratic seats in Texas House... Thanks to Pres. Obama

Yes, I am whining, Joe. After years in the wilderness, the Texas Democratic Party has been making a nice steady comeback. Then your clueless administration squandered every opportunity to reward the people who elected you creating an undisputable "enthusiasm gap".

So the question, DUers, is who, or who-all, are going to go to Obama and firmly suggest he not seek reelection?

[Lisa D]

14. No one.

"Reward the people who elected you."

So are you saying this is a quid pro quo situation? The president should 'reward' the people who elected him and ignore everyone else? That sounds very republican.

Last time I looked, most Texas politicians have a long way to go to be as liberal as the president. You might want to start there.

[BeyondGeography]

15. So we can win Texas?

Hey, I love your state, but Obama is the least of your problems.

[Arkana]

23. Nobody, because it's not the President's fault that the Texas electorate

is impatient, ADD, and easily scared.

He'll run again, and he'll win, and sorry if you don't like that.

[XOKCowboy]

7. Why doesn't Perry "opt-out" of all the military bases and NASA if Texas is so self sufficient

Then there's that hurricane disaster relief and hey what about all that dadgum Federal money for all those Interstate highways?

Friggin' hypocrite.

[Jakes Progress]

8. Let's not forget that karl rove

handpicked perry to be w's gov-lite because next to good hair, even george looked bright.

But rove may see in perry another blank slate like w and reagan.

Just how stupid can American voters be? We may get to find out.

[LiberalFighter]

9. Draconian Provisions

A workable plan to allow states to opt out of Social Security would require draconian provisions, such as a mandate that everyone must retire in the same state that they worked and paid taxes in. Otherwise, workers who are too young to receive Social Security benefits would move to an opt-out state to avoid paying Social Security taxes — and then promptly move to a state with Social Security benefits the moment they became eligible. Eventually, the entire system would collapse under the weight of too many Social Security beneficiaries who had not paid into the system.

[dsc]

17. I think his idea is stupid

but it would require no such thing. The teacher's retirment system in Ohio is not part of Social Security. If you work as an Ohio teacher you pay into that system and not Social Security (you do pay into medicare though). When you retire, no matter where you live, you get an Ohio teacher pension and no Social Security unless you also paid into that (in say a summer job). My dad gets both since he had worked outside the education system but his wife doesn't since she didn't.

[countrydad58]

20. So

what happens to someone who becomes disabled before retirement Perry?

[LiberalFighter]

10. Bush wanted private accounts in 2005 and pointed to Galveston as an example.

Some points about the Galveston Plan (CBPP Report

Payroll Contributions:
12.4% under Social Security
13.9% under Galveston

Retirement Benefits:

Galveston Plan is generally lower than Social Security. There are no adjustments from year to year to reflect increases in COLA. No additional spousal or dependent benefits. Benefits are not portable to other employers.


Under the system used by Galveston, Matagorda, and Brazoria local government employees they are free Everyone else is picking up the load that they are not paying into.

If the Galveston Plan was nationalized it would require an increase of taxes or a national sales tax to pay the benefits owed to current 45 million + beneficiaries.

[Avalux]

11. More stench from the mouth of a piece of shit.

I absolutely despise that man, probably as much as Bush. Sorry, the election was difficult for us Democrats living in Texas. :cry:

[JCMach1]

13. HE said the same on morning Joe, plus called it a Ponzi scheme

[ellenfl]

16. will he put it to the vote of the population or just have the

legislature decree it? what happens in those local govts that have opted out when an employee quits or is fired? what happens when the investments take a hit? doesn't look very employee friendly to me.

ellen fl

[Chatt]

18. Senior will move to other states

That's preposterous.

[countrydad58]

19. This fucker

was one of them Blue Dogs one time!

[vaberella]

21. Yes Perry propose that and Republicans push that.

So when the State says...no more SS in Florida---the Seniors might learn to vote better.

[Arkana]

22. And suddenly the blue states are about to get a lot more populous.

[Phx_Dem]

24. Propose away dickhead. You're a governor, not an elected member of Congress or President.