Tuesday, October 12, 2004
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Don't Expect Social Security to Remain Intact if George Bush Retakes the White House.
Republicans are already laying the groundwork to decimate Social Security. GOP lawmakers have predicted calamity and early insolvency and Federal Reserve Chairman Alan Greenspan has proclaimed that benefits must be cut. However, Social Security experts have long said such dire claims are exaggerated and that only minor corrections are needed.
Republican lawmakers have so far been successful blocking universal health care and numerous other social programs common in other advanced nations, but not Social Security. Now, George Bush wants to gut it too in order to secure resources for his neocon war agenda and to perpetuate his hefty tax cut for the wealthiest Americans. He would rather buy yachts for the rich instead of insuring working American seniors and disabled a retirement with dignity.
He talks about 'personal retirement accounts' as well as 'personal medical accounts' to be funded by this mythical extra money that everybody is supposed to have. Multi-millionaire Republicans can't conceive of the need to work two or more jobs just for basic necessities as many American breadwinners now do.
This old Republican notion of allowing individuals to self invest for retirement what they are now contributing via taxes to the Social Security pot is self-serving and a route to disaster. The objective of Social Security is that the population as a whole is insured from poverty and dispair at old age and upon becoming disabled, so all earners need to 'kick in'. Furthermore, the panacea of investing in the stock market lacks the 'security' element as shown by the recent crash followed by the uncertain roller costar ride. What do the self-insurers do when their investments fail or they spend their funds on something else?
Actually, Social Security supports business as well as individuals. What would replace the huge income flow into the market place that currently comes from Social Security recipients? Also, if everybody started holing away every extra cent into Bush's saving accounts instead of purchasing some accouterments of life, The U.S. would quickly go into recession because consumer spending is what drives our economy. A similar scenario occurred in the eighties when the spendthrift Japanese crashed their own booming economy by practicing widespread excessive saving. Finally, business would be faced with serious wage pressures and revitalized unionization if Social Security wasn't there for the retirement years. Without it, many working Americans would not be able to subsist to the end on their low wages and absence of benefits. When business fails to provide for the populace, government picks up the ball.
The ravages of the Republican war against working Americans has made Social Security absolutely necessary now. Under Bush, Poverty has deepened and wages have diminished. His tax cut for the rich and record federal deficit has placed undue tax pressures upon the working class now and in the future. George Bush has driven out sources of opportunity and prosperity by encouraging and even offering tax breaks to businesses to offshore jobs that are high paying. He has even cut take home pay with his new overtime law that does away with time and a half. We need to save Social Security by voting out George Bush and other Republicans.
Don't Expect Social Security to Remain Intact if George Bush Retakes the White House.
Republicans are already laying the groundwork to decimate Social Security. GOP lawmakers have predicted calamity and early insolvency and Federal Reserve Chairman Alan Greenspan has proclaimed that benefits must be cut. However, Social Security experts have long said such dire claims are exaggerated and that only minor corrections are needed.
Republican lawmakers have so far been successful blocking universal health care and numerous other social programs common in other advanced nations, but not Social Security. Now, George Bush wants to gut it too in order to secure resources for his neocon war agenda and to perpetuate his hefty tax cut for the wealthiest Americans. He would rather buy yachts for the rich instead of insuring working American seniors and disabled a retirement with dignity.
He talks about 'personal retirement accounts' as well as 'personal medical accounts' to be funded by this mythical extra money that everybody is supposed to have. Multi-millionaire Republicans can't conceive of the need to work two or more jobs just for basic necessities as many American breadwinners now do.
This old Republican notion of allowing individuals to self invest for retirement what they are now contributing via taxes to the Social Security pot is self-serving and a route to disaster. The objective of Social Security is that the population as a whole is insured from poverty and dispair at old age and upon becoming disabled, so all earners need to 'kick in'. Furthermore, the panacea of investing in the stock market lacks the 'security' element as shown by the recent crash followed by the uncertain roller costar ride. What do the self-insurers do when their investments fail or they spend their funds on something else?
Actually, Social Security supports business as well as individuals. What would replace the huge income flow into the market place that currently comes from Social Security recipients? Also, if everybody started holing away every extra cent into Bush's saving accounts instead of purchasing some accouterments of life, The U.S. would quickly go into recession because consumer spending is what drives our economy. A similar scenario occurred in the eighties when the spendthrift Japanese crashed their own booming economy by practicing widespread excessive saving. Finally, business would be faced with serious wage pressures and revitalized unionization if Social Security wasn't there for the retirement years. Without it, many working Americans would not be able to subsist to the end on their low wages and absence of benefits. When business fails to provide for the populace, government picks up the ball.
The ravages of the Republican war against working Americans has made Social Security absolutely necessary now. Under Bush, Poverty has deepened and wages have diminished. His tax cut for the rich and record federal deficit has placed undue tax pressures upon the working class now and in the future. George Bush has driven out sources of opportunity and prosperity by encouraging and even offering tax breaks to businesses to offshore jobs that are high paying. He has even cut take home pay with his new overtime law that does away with time and a half. We need to save Social Security by voting out George Bush and other Republicans.
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