Supporters of Bush Social Security Plan Wildly Misinformed
Supporters of Bush Social Security Plan Wildly Misinformed
A new poll by the Washington Post reveals that many people who support President Bush’s plan to privatize Social Security are wildly misinformed about basic facts. The poll also found that if the president’s supporters knew the truth, they would consider switching their position. Among those who support Bush’s plan to carve out private accounts from Social Security:
- 56 percent would be more likely to oppose the plan if they knew the government would have to borrow $700 billion or more. (Fact: the government would have to borrow around $2 trillion to finance the plan.)
- 44 percent would be more likely to oppose the plan if they knew the plan does not by itself solve the financial problems with Social Security. (Fact: carving out private accounts does nothing to solve the financial problems with Social Security.)
- 41 percent would be more likely to oppose the plan if they knew investments would be limited to a few stock and bond funds. (Fact: investments will be limited to a few funds.)
- 38 percent would be more likely to oppose the plan if they knew workers who made poor investment choices would end up receiving less in retirement. (Fact: those who pick poorly performing investments will get less.)
It’s easy to understand why supporters of Social Security privatization are misinformed. The president keeps misleading them.
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I am so sick and tired of the obvious bias against women in positions of power in business. Thanks for bringing this to the light of day. It seems so painfully obvious to me.
February 10th, 2005 at 5:25 pmI’m no Martha fan, but how many of the Enron executives do people know and refer to on a first-name basis?
Stop crucifying women for being women. It’s getting old. I’m sure there are plenty of traits of hers to pick apart by examining her business practices and decisions. But please, keep any references to nails or cheerleaders out of it.
Oh, and you should see me at the Christmas Party.
Since 1983, members of the ‘baby boom’ generation have been paying increased payroll taxes to create a surplus in the SS trust fund to help mitigate the impact of our retirement surge on the system. The current administration is draining the trust fund to cover its monstrous deficit — a significant portion of which is the result of tax cuts that benefit the wealthiest (viz., those with income well above the payroll tax cap). Essentially, this administration is taking money that we have been contributing toward our own retirement through increased payroll taxes, and redistributing it to a wealthy few through tax cuts heavily skewed in their favor. In the business world, I believe the term for this is: EMBEZZLEMENT. This administration is robbing Peter and Paul (and me) to pay King George and his courtiers.
February 10th, 2005 at 8:07 pmThis poll simply states the obvious. An administration that lies as much as this one – and yes, I know all administrations do lie, but not like this one – will get its comeuppance. What goes around comes around. I hope it happens in the 2006 midterms.
February 11th, 2005 at 8:26 amTwo things that need to be stated simply, and distinctly and ofetn:
1. If your Social Security payments seem not to be considered a “trust fund”, then all those paying-in are really being taxed an extra 6.2%. How does this square with the amount of “tax relief” you’ve received from the administration?
February 11th, 2005 at 1:12 pm2. If the mandate for the 6.2% employer contribution disappears over the course of the Social Security discussion, is that going to mean that workers will get a 6.2% pay raise? I DOUBT IT. Beyond the actual dollars received, a workers compensation includes such things as vacation, holidays, health care, pensions and government-mandated payments like Social Security. Health care and private pensions are currently being curtailed, or eliminated, by a lot of employers. But are the dollars saved being added to the employee’s dollar compensation? Again, I doubt it. So in addition to stagnenting wages, the other elements of a workers compensation are being eroded as-well.
I believe that the enormous deficits being run up by the Bush administration are planned and orchestrated. By placing the nation in tremendous debt, the republicans can use the argument that we can no longer afford to continue to support programs like Social Security, HUD, Medicare, EPA, or any other programs meant to benefit the poor or lower middle class. Bush has a history of esousing one thing and doing exactly the opposite as soon as the cameras are off. By the time America wakes up to this charlatan, republicans will have destroyed education, affordable health care, and anything else to help the average American. Republicans have not tried to hide their animosity for social security or any other program that does not put money in their pockets. As you recall, Cheney as a congressman voted against free school lunches and head start programs for the poor every time it came up. Where is the compassionate conservatism?
February 13th, 2005 at 11:03 am“Welfare for Wall Street”, that’s what the private social security plan is, and that’s why they’re pushing it. It’s a scheme to skim billions from the system. Remember the $500B savings and loan scandal? This is just the latest in a long string of schemes from the same old crooks.
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