McCain Would Privatize Social Security

midcan5

liberal / progressive
Jun 4, 2007
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America
"The presidential debate must return to Social Security and other issues that affect people's lives. The sleaze that Senator McCain and his vice-presidential candidate throw out as a distraction should be left to the pigs."

McCain Would Privatize Social Security by Dean Baker

"The Republicans have already turned to sick sexual innuendo and nonsense about their vice-presidential candidate, pigs and lipstick in order to distract the public from the real issues in this campaign. One of the items that should be on top of the list of real issues is Senator McCain's plans to privatize and cut Social Security.

McCain has repeatedly expressed interest in privatizing Social Security along the lines proposed by President Bush. For those who have forgotten that nightmare, Bush's plan would have reduced benefits by approximately one percent a year for many workers.

Workers who retired 10 years after the plan was put in place would see a 10 percent reduction in benefits compared with the currently projected levels. Workers who retired 20 years after the plan was implemented would see approximately a 20 percent cut in benefits and workers who retired 40 years after the plan started would see their benefits cut by close to 40 percent.

This schedule of cuts would apply to workers who earn $100,000 a year. Workers who earn $60,000 a year would see cuts of about half this size.

The losses to retired workers could mean big benefits for the financial industry. Under some versions of the plan, the financial industry would rake in hundreds of billions of dollars in fees and commissions over the next 40 years...."

McCain Would Privatize Social Security | CommonDreams.org
 
who was it just yesterday bitching cause seniors took more than they put in? So now reduced benefits is a bad thing? hhhhmmmm!
 
Awesome. Maybe we can fix the system before it becomes another Fannie Mae.:D

By including it in the very system that created Fannie and Freddie - sorry, does not compute.


A vote for McCain/Palin is a vote to continue the same economic policies that are destroying the middle class in America.
 
Financial institutions are being nationalised to stop them failing. Why would anyone privatise your social security system?

Good question. Any of you ideological tools care to answer?


A vote for McCain/Palin is a vote against the fundamental principle of America, the right of the individual to lead their life privately without the government interfering.
 
Wow are you fucking stupid. Fannie and Freddie were created and run by Democrats. :cuckoo:

They were created to help during the depression, they did mostly good work. The housing bubble was caused by greed and stupidity, it is why we need a strong regulatory system. Fan and Fred suffered from the very casino mentality that creates all bubbles. It is why SS needs to be kept far away from the investors. The ramifications of free market ideology, get rich quick schemes, and simple poor decision making is why they needed a bailout - not their structure or their purpose.

Krugman: Fannie and Freddie - International Herald Tribune
 
By including it in the very system that created Fannie and Freddie - sorry, does not compute.


A vote for McCain/Palin is a vote to continue the same economic policies that are destroying the middle class in America.
um, fannie and freddie were already quasi-governmental orgs to begin with
about the same as social security is now
 
so was social security..

And it is the most popular and effective social program in America. And you know why? Because it is good thing for all, especially those whose spouses die or whose business goes under due to economic downturns. Now we need the democrats to create a UHC system that works for all and we will have even a better nation.
 
um, fannie and freddie were already quasi-governmental orgs to begin with
about the same as social security is now

No, they were private corporations, and have been since 1968

How many times does this need to be said before some of you get it?
 
No, they were private corporations, and have been since 1968

How many times does this need to be said before some of you get it?
never, because it isnt true
they were created by an act of congress
how many times do you need to be told this before it sinks into that thick skull?
 
"The presidential debate must return to Social Security and other issues that affect people's lives. The sleaze that Senator McCain and his vice-presidential candidate throw out as a distraction should be left to the pigs."

McCain Would Privatize Social Security by Dean Baker

"The Republicans have already turned to sick sexual innuendo and nonsense about their vice-presidential candidate, pigs and lipstick in order to distract the public from the real issues in this campaign. One of the items that should be on top of the list of real issues is Senator McCain's plans to privatize and cut Social Security.

McCain has repeatedly expressed interest in privatizing Social Security along the lines proposed by President Bush. For those who have forgotten that nightmare, Bush's plan would have reduced benefits by approximately one percent a year for many workers.

Workers who retired 10 years after the plan was put in place would see a 10 percent reduction in benefits compared with the currently projected levels. Workers who retired 20 years after the plan was implemented would see approximately a 20 percent cut in benefits and workers who retired 40 years after the plan started would see their benefits cut by close to 40 percent.

This schedule of cuts would apply to workers who earn $100,000 a year. Workers who earn $60,000 a year would see cuts of about half this size.

The losses to retired workers could mean big benefits for the financial industry. Under some versions of the plan, the financial industry would rake in hundreds of billions of dollars in fees and commissions over the next 40 years...."

McCain Would Privatize Social Security | CommonDreams.org

Sweet! I hope he does... Maybe I will get more than $400 a month to live on when I retire....if social security is still around that is...

That's good news for everyone.... get the government out of the way and let people prosper!!!!!! :clap2:
 
Wow are you fucking stupid. Fannie and Freddie were created and run by Democrats. :cuckoo:

Great point... However this point will be conveniently ignored.... Remember according to Pelosi the Demcorats bear no responsibility for any of the financial problems.... LOL
 
Social Security is not failing. More privatization bullshit.

No, there are no plans to cut benefits for current retirees. In fact, benefits will continue to be increased each year with inflation. Even without any changes, current benefits are expected to be fully payable on a timely basis until 2041.

If we raise the upper income limit to over 95,000, it can be solvent forever.

Wow, we may have to pay more today than yesterday. Now that doesn't happen for any other frigging service or commodity does it?

Let's privatize it so that more greedy bastards can try and milk it dry to make millions just like has happened to the current economic crap.

Dems didn't own Freddie and Fannie. They were privately owned. More proof that some institutions that can have such a large negative impact upon our country should be government run.

How many on these threads have seen their 401 go south with this sound and healthy economy of Bush/McCain?
 
Social Security is not failing. More privatization bullshit.



If we raise the upper income limit to over 95,000, it can be solvent forever.

Wow, we may have to pay more today than yesterday. Now that doesn't happen for any other frigging service or commodity does it?

Let's privatize it so that more greedy bastards can try and milk it dry to make millions just like has happened to the current economic crap.

Dems didn't own Freddie and Fannie. They were privately owned. More proof that some institutions that can have such a large negative impact upon our country should be government run.

How many on these threads have seen their 401 go south with this sound and healthy economy of Bush/McCain?

rayboy - What are you talking about? It's common sense. Each year there are more people collecting benefits than paying in.... In other words, more money coming out and less money going in... What's so hard to understand about that?

I hope you don't do your own investing...
 

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