After reading many articles on Bush's proposed social security reforms, I can see just how well those of us who are not wealthy will be totally, utterly screwed. It amazes me that people actually believe his reforms are a good idea; but he did sell a large majority of Americans on the WMD's in Iraq, which were never there. Why it does not occur to these same people the social security "imminent danger" he speaks of is about as genuine as the WMD's in Iraq totally mystifies me.
Then of course, he speaks in generalities, and makes it sound so good. "Your" money, "your account," "ownership." Only the skeptics among us, evidently, think to look beyond the overblown statements.
There are several issues to explore:
AARP Bulletin Feb 2005 noted the following: privatized Bombed in Britain privatization In the article they note that more money was being lost by taxes diverted to public accounts than the government would have paid out. Surprisingly, the UK is looking at the American Social Security System as a model for the revamping of their program.
Another important fact: Rep. Bill Thomas R-Calif, chair of the House Ways and Means Committee recently brought up the idea of adjusting benefits by gender and race. This will only hurt women and minorities. Many women stay at home for a period of time either caring for their children or elderly parents, and thus put less into social security over a life time than their male counterparts. Stay at home Moms put nothing in at all, and of course will be impacted even more by this adjustment. Since Republicans and the Christian right are so gung ho for stay at home Mom's why penalize them for doing so?
All in all, it's like buying a used car, without a warranty. Bush is trying to sell us a lemon.
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