George Bush needs to drop his private accounts idea regarding social security. Social security funds were never meant to be invested in the risky, often volitile stock market. Social security has always been an INSURANCE plan so that retiring and disabled citizens can have some form of insured income.
The independent General Accounting Office has even come out and said that social security "does not face an immediate crisis." FULL STORY HERE The story goes on to say that the head of the GAO says that "private accounts" will do little to solve the social security problems. Yet the President keeps going around terrifying people that the system is about to collapse and that private accounts will solve everything. This reminds me of the American fable of "The Little Boy Who Cried Wolf." Where the boy cried that there was a wolf in the village so much that the village started not to listen or trust him. Then one day a real wolf showed up in the village and ate some sheep because no one believed the boy.
Bush keeps trying to say that there are these "immediate problems" but they turn out to be less of a problem then he said. I think we can all remember who he said Iraq was an immediate threat and that we would find weapons of mass destruction. Now he is trying to scare us into these risky private accounts which would require us to borrow A LOT more money from foreign countries JUST to get it going!!
The social security issue does need to be addressed but it can be solved with some minor tweeking. We do not need to completely over-haul the entire system. If we would just repeal the tax cuts to the wealthiest Americans and apply that money to social security we would be a lot further to solving the problem for years to come.
Think about this for a moment before you go firing off a flaming, raging comment about "higher taxes." I am talking about raising the taxes of those who make approx. $150,000 a year or more. This would not affect most of us average Americans. In fact I think that we should keep the tax cuts for the middle and lower classes because it is the middle and lower class who keeps the economy going folks.
The more wealthy Americans should pay more because they gained their fortunes through the wonderful opportunities that America offers and represents. They should pay more to help others achieve a small piece of that "American Dream" that they (the rich) have achieved because of this great country. I would think that Neo-conservatives would agree with this plan of higher taxes to "save" social security if they truly believe in "compassionate conservatism" as Bush constantly calls it.
Sometimes we have to make the tough decisions in order to keep the integrity and solidarity of this great America. Higher taxes for the wealthy would be a minor pain to the uber-wealthy and yet the revenue created from it would ensure that the future elderly and disabled citizens have some dignity and peace of mind.
(steps off soap box).
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3 comments:
"If we would just repeal the tax cuts to the wealthiest Americans and apply that money to social security..."
Here I totally agree with you. 100% Good solution for everybody.
I'll try to explain it in my blog how social security works with us, in Belgium.
You should talk to "Polar Bear". If you don't know him/her, there is a link on my site. (because he/she lives in New Zealand, best Social S. system in the world!)
By mistake I put a comment under the "fitness" (?) picture below. You'll find it there :)
"The independent General Accounting Office has even come out and said that social security "does not face an immediate crisis."
We all had a chuckle about this one at the office. I have to say I wasn't surprised that there would be problems for the GOP in passing their foolish private accounts BS. Although, I think that there are surely problems with SS, they are fixable and there is plenty of time to do that. Great post!
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