Posts Tagged ‘Social Security’

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The Democrats Won’t Talk About This Provision

Friday, March 12th, 2010

Friday, March 12, 2010
Mona Charen :: Townhall.com Columnist
by Mona Charen

“You’ve heard about the controversies within the bill, the process about the bill, one or the other. But I don’t know if you have heard that it is legislation for the future . … We have to pass the bill so that you can find out what is in it, away from the fog of controversy.” — Speaker of the House Nancy Pelosi, March 9, 2010

Pity the Democrats. They just can’t get their message out. Not with a charismatic president (who has delivered 52 speeches on the subject), control of both houses of Congress, the gooey enthusiasm of 90 percent of the press, and more than a year of ceaseless agitation. Their efforts have been thwarted, so they imagine, by “misinformation,” “distortion” and the “special interests.” So influential are these dark forces that the leadership cannot shout over them. Speaker Pelosi must pass the grossly unpopular bill in order to get the peace and quiet she needs to explain its virtues.

In fact, on the most important variable about this legislation — cost — Americans see through the optimistic projections. Asked by Rasmussen whether the health care plan will cost more than currently estimated, 81 percent of voters said yes and 66 percent said it was “very likely” to exceed projections. Doubtless the Democrats can explain that Americans believe this only because they’ve been duped by lies and clever ad campaigns, not because 60 years of recent history demonstrate conclusively that government programs, particularly open-ended entitlements, nearly always exceed projected costs. In 1966, Medicare cost taxpayers $3 billion. The House Ways and Means Committee estimated that by 1990, we might be spending as much as $12 billion. The actual 1990 figure? $107 billion. In 1987, Congress estimated that the Medicaid DSH (disproportionate share hospital) costs would be less than $1 billion in 1992. The actual cost? $17 billion.

But since Pelosi is so eager for us to know the details, let’s indulge her. Among the specifications of the House bill that passed last November are several sections that mandate racial and ethnic quotas for medical schools and other federal contractors. As Allan Favish reported in The American Thinker, the bill specifies that the secretary of Health and Human Services, “In awarding grants or contracts under this section … shall give preference to entities that have a demonstrated record of … training individuals who are from underrepresented minority groups or disadvantaged backgrounds.”

This, along with other provisions, is broad enough to cover every medical, nursing, dental school and teaching hospital in the country and guarantees the institutionalization of racial, sex, and ethnic quotas in perpetuity (though the use of the word “underrepresented” before “minority” ensures that the quotas will not apply to Asians or Jews).

The rationale for quotas, insofar as there is one, is that African-Americans and Hispanics have, on average, poorer health than other groups. Liberals assume that these disparities are the result of discrimination or lack of access to health care rather than other factors like poverty, eating habits, heredity, and fitness. If medical and dental schools are required to admit more minority applicants, newly minted minority professionals will tend to those “underserved” populations.

Of course, medical and dental schools have been practicing affirmative action for decades, but they’ve had trouble recruiting large numbers of minorities. Part of the problem is that African-Americans do not tend to gravitate to math and science (the solution to which is to be found in families and schools). Still, for the past few decades, less-qualified minorities have been offered spots in medical schools, with the result that: 1) Those minority professionals who would have qualified without affirmative action bear a stigma, and 2) less-qualified minorities fail licensing exams at much higher rates than their classmates. Is it a service to the African-American or Hispanic communities to provide physicians and dentists who are less capable than others? Will it improve health outcomes to be treated by less-qualified professionals?

President Obama asked this week whether anyone could oppose “holding insurance companies accountable,” and “bringing down costs for everyone.” Funny, he doesn’t ask whether we object to this: a provision on “maintaining, collecting and presenting federal data on race and ethnicity,” in order to “facilitate and coordinate identification and monitoring … of health disparities to inform program and policy efforts to reduce such disparities.” That’s an engraved invitation to social engineering.

But then, even to mention it is probably contributing to the “fog of controversy.”

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Milton Friedman – The Social Security Myth

Sunday, March 7th, 2010

Using Social Security as his prime example, Professor Friedman explodes the myth that the major expansions in government resulted from popular demand. In a speech delivered more than 30 years ago, he directly relates this dynamic to today’s health care debate.

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Milton Friedman (July 31, 1912  – November 16, 2006) was an American economist, statistician, and a recipient of the Nobel Memorial Prize in EconomicsMilton Friedman’s Wiki Bio

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It turned out that the country’s problems were not problems of structure but of leadership

Friday, February 19th, 2010

Friday, February 19, 2010
Charles Krauthammer :: Townhall.com Columnist
by Charles Krauthammer

WASHINGTON — In the latter days of the Carter presidency, it became fashionable to say that the office had become unmanageable and was simply too big for one man. Some suggested a single, six-year presidential term. The president’s own White House counsel suggested abolishing the separation of powers and going to a more parliamentary system of unitary executive control. America had become ungovernable.

Then came Ronald Reagan, and all that chatter disappeared.

The tyranny of entitlements? Reagan collaborated with Tip O’Neill, the legendary Democratic House speaker, to establish the Alan Greenspan commission that kept Social Security solvent for a quarter-century.

A corrupted system of taxation? Reagan worked with liberal Democrat Bill Bradley to craft a legislative miracle: tax reform that eliminated dozens of loopholes and slashed rates across the board — and fueled two decades of economic growth.

Later, a highly skilled Democratic president, Bill Clinton, successfully tackled another supposedly intractable problem: the culture of intergenerational dependency. He collaborated with another House speaker, Newt Gingrich, to produce the single most successful social reform of our time, the abolition of welfare as an entitlement.

It turned out that the country’s problems were not problems of structure but of leadership. Reagan and Clinton had it. Carter didn’t. Under a president with extensive executive experience, good political skills and an ideological compass in tune with the public, the country was indeed governable.

It’s 2010 and the first-year agenda of a popular and promising young president has gone down in flames. Barack Obama’s two signature initiatives — cap-and-trade and health care reform — lie in ruins.

Desperate to explain away this scandalous state of affairs, liberal apologists haul out the old reliable from the Carter years: “America the Ungovernable.” So declared Newsweek. “Is America Ungovernable?” coyly asked The New Republic. Guess the answer. Continued…

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Social Security? Ownership, not socialism

Saturday, February 13th, 2010

Historic change sometimes comes from unlikely sources.

A famous example was long-time anti-Communist Richard Nixon breaking the diplomatic ice with Red China.

One that came close was in 1998 when President Clinton carefully studied reforming Social Security with personal retirement accounts along the lines that President Bush proposed a few years later.

Clinton’s research team, which included Douglas Elmendorf, current director of the Congressional Budget Office, spent a year and a half studying options for revamping Social Security, and intense scrutiny was given to the personal-accounts option.

In December of 1998, the Clinton White House hosted a Social Security Summit, and one of the invited speakers was José Piñera, the Chilean who in 1980 transformed, with great success, his nation’s Social Security system to one of ownership with personal retirement accounts.

As reported by Elmendorf and two colleagues in a paper in 2001, sweeping Social Security reform proposals were politically derailed by Clinton’s impeachment.

Nevertheless, Clinton told the nation in his State of the Union address in January 1999 that Social Security was broken and needed reform: “Today, Social Security is strong. But by 2013, payroll taxes will no longer be sufficient to cover monthly payments.”

Clinton was optimistic. It is now 2010, and payroll taxes will not cover payments.

Fortune magazine’s Allan Sloan reported last week in the Washington Post that, although no government official has formally announced as such, a Congressional Budget Office report shows that “Social Security will be $28 billion in the hole this fiscal year, which ends Sept. 30.”

A few visionary and courageous young members of Congress, such as Paul Ryan, R-Wis., are trying to get bold reform of Social Security back on the table.

Ryan calls his broad-based reform bill, which has nine co-sponsors, a “Road Map for America’s Future.” It includes a provision to allow those under 55 the option of taking ownership of a third of their current Social Security taxes and investing them in a personal retirement account.

Surely initiatives to revive the personal-retirement-account idea will run into the same opposition and criticism President Bush encountered. A major one, that it would expose the average American to excessive risk, will be trumpeted even more now in the wake of the recent major stock-market downturn.

But this criticism is incorrect now as it was then.

The positive compounded annual returns of investing over a 45 year working life will overwhelm the inevitable years of downturn.

The awakening that needs to occur is to appreciate that the breakdown of Social Security, as well as Medicare, reflects the inevitable failure of social engineering. It seemed like such a bright idea 75 years ago, when there were over 40 individuals working for every retiree, to provide a government retirement stipend financed with a payroll tax. But it doesn’t work quite as well when there are three, on the way to two, working and paying for each retiree – today’s reality.

Tax increases and benefit cuts, with the goal to make the existing Social Security system solvent, would only make a bad deal even worse for every working American.

We need, in the words of Abraham Lincoln, a “new birth of freedom.” Restore an American retirement system based on ownership rather than socialism.

This is a bipartisan reform opportunity where Barack Obama can truly make history.

Wealth doesn’t come from income. It comes from ownership. Investing in personal retirement accounts, rather than paying Social Security taxes, would be a boon for America’s black community. Median financial

wealth of black households, excluding home ownership, is about a hundredth that of white households.

Maybe there will be an epiphany in the White House, and historic change will again come from an unlikely source.

Star Parker is is an author and president of CURE, Coalition for Urban Renewal and Education. Her books include “White Ghetto: How Middle Class America Reflects Inner City Decay.”

[Money withheld from your pay (and social security check if you are
receiving benefits) is loaned to the US Treasury General Fund at 2%
interest. If it were in a private account such as 401K or 403B it
would earn 4, 5 % or more and just as with a 401K or 403B you would
not be able to get to it prematurely.  Now that the Treasury is
broke and baby boomers are retiring the Treasury doesn't have money
to repay Social Security. Either the US Treasury will have to borrow
from investors, China, Japan or Saudi Arabia and you pay that back
through income taxes or the Congress will simply raise income taxes.
Another issue is the people currently unemployed are not contributing
making the cash inflows smaller.]

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Social Security is closer to going into the red than earlier projections estimated

Wednesday, January 13th, 2010

Blahous: Social Security and Work-

In the wake of a crushing recession, with sharp declines in employment and government revenues, Social Security is much closer to going into the red than earlier projections had estimated.

Last spring, the Social Security trustees reported that more than 75% of the program’s previously projected near-term surplus had vanished. In September, the Congressional Budget Office offered an even more sober- ing prediction: Social Security will begin running deficits in 2010, and by 2019 will face annual shortfalls in the neighborhood of $60 billion, which will have to be made up out of general revenue.

These reports highlight the growing urgency of Social Security’s trou- bles and the pressing need for change. But merely ringing the alarm bells will do little to improve the political prospects for fundamental reforms. Interest groups purporting to represent seniors are still dogmatically opposed to changing the system; the country as a whole is disinclined to do anything seen as jeopardizing benefits for the elderly; and the down- sides of many of the most commonly proposed reforms are often far eas- ier to see and explain than the long-term fiscal benefits they would bring.

Indeed, the nature of the Social Security system complicates any purely fiscal case for reform. Normally, advocates of government spending must choose between adding to the tax burden and adding to the deficit. But when future Social Security benefits are promised well in excess of pro- jected revenues, the cost does not show up in measures of today’s deficit. Instead of adding immediately to the tax burden, policymakers add to the burden of the next generation, a practice that permits them to duck near-term responsibility for raising taxes while blurring the long-term bud- get realities by quibbling over projections. And as with other entitlement programs, cost increases in Social Security occur on autopilot, so that by default the program stays on a course of ever-rising costs—however unsustainable it may be in the long run. Reforms cannot be made with- out new legislation that could easily be painted as either raising taxes or cutting benefits. The status quo is well entrenched.

Read the full article here

[The solution is two fold.  First lower taxes and put people back to work.  Without more demand the unemployed will grow as more students graduate and enter the workforce.  Lower taxes enable households to buy more of what they need and hence create  demand for more goods and services causing providers of goods and services to hire more people.  The newly hired  in turn consume more.  Each newly hired or re-hired person will pay social security taxes on their earnings.  Secondly and long term, have social security channel some of the money withheld from paychecks into high quality market investments where it can be safe and expand businesses to create even more jobs.  Today social security withheld from paychecks is passed through to the governments general fund where it is used for projects that will generate the most votes for incumbent politicians and earns very little interest to assist in it's growth. ]

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Walter E Williams – Washington Lies

Sunday, January 3rd, 2010

Walter E. Williams’ Biography

[Bio borrowed from Townhall.com]

Born in Philadelphia in 1936, Walter E. Williams holds a bachelor’s degree in economics from California State University (1965) and a master’s degree (1967) and doctorate (1972) in economics from the University of California at Los Angeles.

In 1980, he joined the faculty of George Mason University in Fairfax, Va., and is currently the John M. Olin Distinguished Professor of Economics. He has also served on the faculties of Los Angeles City College (1967-69), California State University (1967-1971) and Temple University (1973-1980). From 1963 to 1967, he was a group supervisor of juvenile delinquents for the Los Angeles County Probation Department.

More than 50 of his publications have appeared in scholarly journals such as Economic Inquiry, American Economic Review and Social Science Quarterly and popular publications such as Reader’s Digest, The Wall Street Journal and Newsweek. He has made many TV and radio appearances on such programs as Milton Friedman’s “Free to Choose,” William F. Buckley’s “Firing Line,” “Face The Nation,” “Nightline” and “Crossfire.”

He is also the author of several books. Among these are The State Against Blacks, later made into a television documentary, America: A Minority Viewpoint, All It Takes Is Guts, and South Africa’s War On Capitalism.

In 1981, he began writing his weekly column called “A Minority View” for Heritage Features Syndicate. And in 1991, he joined Creators Syndicate as part of its friendly takeover of Heritage Features.

Williams sits on many advisory boards, including the Review Board of Economics Studies for the National Science Foundation, the Research Foundation, the National Tax Limitation Committee, the Taxpayer’s Foundation and the Hoover Institution.

The awards and honors Williams have received are many. These include the National Fellow at the Hoover Institute of War, Revolution, and Peace; the Ford Foundation Dissertation Fellowship; the National Service Award from the Institute for Socioeconomic Studies; and the George Washington Medal of Honor from the Valley Forge Freedom Foundation. In 1984-1985, he received the Faculty Member of the Year Award from the George Mason University Alumni. He is also a member of the American Economic Association, the Mont Pelerin Society and is a Distinguished Scholar of the Heritage Foundation.

Williams participates in many debates and conferences, is a frequent public speaker and often gives testimony before both houses of Congress.

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What Suckers We Are – IBD Editorials

Tuesday, December 29th, 2009

Statism: Let’s face it: Big government is making suckers out of all of us. All of us, that is, who play by the rules and pay our bills. Here’s a little test to see just how big a sucker you really are.

Are you still paying your mortgage each month at the interest rate you agreed to? Sucker! The government has created a program to let those who aren’t paying on their mortgages get lower interest rates on their loans.

And if you haven’t had the government make the bank reduce the amount you owe on your loan, you’re an even bigger fool.

Do you work for a private company instead of the government? Sucker! The real money is made working for Uncle Sam. The average pay for federal government workers is now $71,206, compared with $40,331 for those in the private sector.

In fact, nearly one out of five federal workers pulls down more than $100,000. That’s up over 33% during what the administration says is the worst economic downturn since the Great Depression.

And that’s before overtime and benefits — which used to suffice for such workers — kick in. Meanwhile, a “pay czar” aggressively caps salaries at companies that receive “federal” money.

Still paying full price for your kids’ meals at school? The government currently provides free or reduced-price lunch, breakfast or both for nearly 60% of all school-age children nationwide. Households with incomes of up to 185% of poverty level are eligible.

In Philadelphia public schools, 72% of students have access to a universal feeding program — regardless of income. Pennsylvania Sen. Bob Casey wants to nationalize that program.

Are you represented by a senator who promised to vote for health care reform before demanding a few barrels of pork from Majority Leader Harry Reid? As Reid himself said, “I don’t know if there is a senator that doesn’t have something in this bill that was important to them. And if they don’t have something in it important to them, then it doesn’t speak well of them.” Translation: “Sucker!”

You don’t actually pay federal income tax, do you? According to the Tax Policy Center, roughly 47% of American households don’t — and that’s expected to top 50% soon. So if you’re still cutting a check to Uncle Sam when half of your fellow citizens pay nothing — or even get a tax credit — well, if that’s not the definition of “sucker” we don’t know what is.

If it makes you feel any better, Vice President Biden says true patriots pay more in taxes. By extension, your love of country is even more apparent when you also help your neighbors pay their mortgages, food bills and health care costs.

Don’t ask what your country can do for you. Ask how big a sucker you can be for your country.

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Anything To Raise Funds 4

Saturday, November 1st, 2008

The Gerrymandered shape of our district.  Texas 18th wikipedia

I don’t know what or who is in the donut hole but you can bet they are there for a political reason.  I saw a picture of a district in another state a couple of years ago where a congressional district was in two distinct pieces not even touching.  I think it was Georgia. Gerrymandering goes back over 150 years and probably longer.  Setting districts gets to be a problem because republicans want to be represented by a Republican, democrats want to be represented by a Democrat.  As you get away from populated areas territory has to be apportioned to provide fair representation to its scattered residents yet still within reach so there can be townhall meetings and local issues communicated.  Because it is a complex problem it will always be subject to manipulation.  Reapportioning is done sometimes in a manner to “sqeeze out” a representative from the party not in the majority in a state.  That’s what the big issue was after the last census in 2000.

Supplemental Security Income (SSI)

Supplemental Security Income (SSI) is a Federal income supplement program funded by general tax revenues (not Social Security taxes):

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It is designed to help aged, blind, and disabled people, who have little or no income; and
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It provides cash to meet basic needs for food, clothing, and shelter.

As I mentioned in a post a while back I was amazed when I went to the Social Security Office to register for my retirement benefits.  Easily of the approximately 100 or so people in there only about 6 were old (like me).  They had a separate line for SSI.  I had no idea what it was until I went home and told my wife.  They had a separate window for old timers.  When they asked how many in the room were there for retirement benefits about 6 of us raised our hands.  In the other line (SSI) people appeared to range in age from early twenties to about 50 years old.

If someone is disabled for whatever reason they should be helped.  If they recover from an injury or illness they should be removed from SSI and sent to the unemployment office for help finding a job. Twice in my life I was laid off and went to the unemployment office for job leads.  I also went to websites, job fairs and “head Hunters”. Work and self-sufficiency provides dignity.  I believe when someone lives off of another’s labors they feel some degree of guilt.  They suspect that others resent supporting them.  Then they resent the others resenting them. It leads to loss of self-respect and attitudinal issues for the recipient. If they want to find the proof of my statement let them go live off a family member for a while.  I’ll bet the family member gets tired of supporting them real quick and let’s them know it.

If someone is old and social security is inadequate then SSI may be necessary.  The amount you receive for social security depends on how much you or your spouse contributed while working.

SSI Eligibility

In order to be eligible to receive SSI benefits, an individual must prove the following:[7]

  • That he/she is age 65 or older, blind, or disabled
  • That he/she legally resides in one of the 50 states, the District of Columbia, Northern Mariana Islands or is the child of military parent(s) assigned to permanent duty outside of the US, or is a student (certain restrictions apply) temporarily abroad.
  • That he/she has income and resources within certain limits (see subsections)
  • The individual must also apply for the benefits.

Furthermore, an individual may find himself or herself ineligible if he/she is a resident of a public institution from the first day of a month through the last day of the same month,[8] fails to apply for all other benefits for which he/she may be eligible (including Social Security benefits), has an unsatisfied warrant or violates parole conditions, fails to give SSA permission to contact any financial institution for financial records, or is outside the US for 30 consecutive days (with some exclusions).[9] Numerous restrictions have been placed on who is eligible for the benefit, which is considered a welfare benefit. However, unlike social security benefits (Title II), earned work credits are not a requirement for SSI.[10]

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“The government pretends to pay us, and we pretend to work.”

Monday, October 27th, 2008

Citizens For A Freer America

The socialism paradigm penalizes success and rewards mediocrity and failure. It brings to mind an old Russian saying. “The government pretends to pay us, and we pretend to work.” An apropos epithet for USSR’S Gross Domestic Product. Well folks, there isn’t a one of us that haven’t heard someone say “I don’t want to work overtime on Saturday because all the extra money will go to taxes.” We’re penalizing productivity for the alleged benefit of all. All being those that can’t or won’t provide adequate income, retirement or medical care for themselves, and those who don’t need it, but having had it extorted from them, insist on receiving their rebate as a social entitlement program.

Making The Rounds On The Internet (Satire I think)

Note To Employees

As of November 5, 2008, when President Obama officially becomes president-elect, our company will instill a few new policies which are in keeping with his new, inspiring issues of change and fairness:

1. All salespeople will be pooling their sales and bonuses into a common pool that will be divided equally between all of you. This will serve to give those of you who are under-achieving a ‘fair shake’.

2. All low level workers will be pooling their wages, including overtime, into a common pool, dividing it equally amongst you. This will help those who are ‘too busy for overtime’ to reap the rewards from those who have more spare time and can work extra hours.

3. All top management will now be referred to as ‘the government.’ We will not participate in this ‘pooling’ experience because the law doesn’t apply to us.

4. The ‘government’ will give eloquent speeches to all employees every week, encouraging its workers to continue to work hard ‘for the good of all’.

5. The employees will be thrilled with these new policies because it’s ‘good to spread the wealth around’. Those of you who have underachieved will finally get an opportunity; those of you who have worked hard and had success will feel more ‘patriotic’.

6. The last few people who were hired should clean out their desks. Don’t feel bad, though, because President Obama will give you free healthcare, free handouts, free oil for heating your home, free food stamps, and he’ll let you stay in your home for as long as you want even if you can’t pay your mortgage. If you appeal directly to our Democrat Congress, you might even get a free flat screen TV and a coupon for free haircuts (shouldn’t all Americans be entitled to nice looking hair?)!!!

If for any reason you are not happy with the new policies, you may want to rethink your vote on November 4th.

 My question is where do they get money when the last dollar has been “redistributed” and spent?  When government taxes and spends, it spends through contractors to build anything and everything and also pocket huge sums (which are shared with the politicians).   Government employees don’t mine anything, grow anything, manufacture anything, repair anything, sing, dance or otherwise entertain us.  The government doesn’t create wealth it only takes it from us. 

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A Little Humor To Lighten Things Up

Monday, October 27th, 2008

Dr Phil and talk radio have been trying to soothe people who are getting stressed out over the election. So the Hanover Pennsylvania Evening Sun posted an article with a little levity.

Charisse: Real writing or, like, whatever  (Sheila Jackson Lee is mentioned about halfway down)

And now back to the somber election issues.

I was just listening to the economic news on Fox News.  They think the Federal Reserve may lower interest rates again.  I also heard that CEOs and other executives in large corporations receiving bailout money are going to get huge bonuses.  They are asking Treasury Secretary Henry Paulson to prevent using bailout money for executive bonuses.

My sense is that the next couple of years are going to require a lot of tough decisions and even tougher actions.  Can we expect a junior politician notorious for voting “present” to make tough decisions and pursue tough action.

News Only – No Inference

California has begun early voting already as well as mail-in balloting. The number of people who have gone in to vote in person has been extensive. The results so far prove what we had always suspected. The polls are being proven as totally unreliable. Although the results of early balloting have not been disclosed,of course, how many Republicans and how many Democrats have voted has been revealed.

Fearing default, Argentina moves to nationalize private pension funds

article here  Maybe this is where our congress got the idea from to confiscate our 401Ks..

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Social security reform – see what Congressmen get!

Sunday, October 26th, 2008

Another old file (an email sent to me) I came across. 

This was sent to me on Sunday, February 20, 2005 10:17 PM by a Democrat

“IT DOESN’T MATTER IF YOU ARE REPUBLICAN OR DEMOCRAT!

2008 Election Issue!!

GET A BILL STARTED TO PLACE ALL POLITICIANS ON SOC. SEC. This must be an issue in “2008” Please! Keep it going.———————————-SOCIAL SECURITY:

(This is worth reading. It is short and to the point.)

Perhaps we are asking the wrong questions during election years.

Our Senators and Congresswomen do not pay into Social Security and, of course, they do not collect from it.

You see, Social Security benefits were not suitable for persons of their rare elevation in society.They felt they should have a special plan for themselves. So, many years ago they voted in their own benefit plan.

In more recent years, no congressperson has felt the need to change it. After all, it is a great plan.

For all practical purposes their plan works like this:

When they retire, they continue to draw the same pay until they die.

Except it may increase from time to time for cost of living adjustments..

For example, Senator Byrd and Congressman White and their wives may expect to draw $7,800,000.00 (that’s Seven Million, Eight-Hundred Thousand Dollars), with their wives drawing $275,000.00 during the last years of their lives.

This is calculated on an average life span for each of those two Dignitaries.

Younger Dignitaries who retire at an early age, will receive much more during the rest of their lives.

Their cost for this excellent plan is $0.00. NADA….ZILCH….

This little perk they voted for themselves is free to them. You and I pick up the tab for this plan. The funds for this fine retirement plan come directly from the General Funds;

”OUR TAX DOLLARS AT WORK”!

From our own Social Security Plan, which you and I pay (or have paid) into,-every payday until we retire (which amount is matched by our employer)-we can expect to get an average of $1,000 per month after retirement.

Or, in other words, we would have to collect our average of $1,000 monthly benefits for 68 years and one (1) month to equal Senator! Bill Bradley’s benefits!

Social Security could be very good if only one small change were made.

That change would be to:

Jerk the Golden Fleece Retirement Plan from under the Senators and Congressmen. Put them into the Social Security plan with the rest of us then sit back…..

and watch how fast they would fix it.

If enough people receive this, maybe a seed of awareness will be planted and maybe good changes will evolve.

How many people can YOU send this to?

Better yet…..

How many people WILL you send this to”

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Where Congress Has Put Your Social Security Money

Saturday, October 25th, 2008

Social Security Saving Social Security

Episode Four: Broken Trust  (video)

REASON TV HAS MORE ON SAVING SOCIAL SECURITY:

Congress borrows it and spends it and issue 2% bonds to the Social Security Administration.  As the population ages, boomers retire and the Social Security Administration needs that money, congress doesn’t have enough.  So they want your 401K money to buy them a few years until the next fix. 

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