Republicans move to privatize Social Security

Discussion in 'Politics' started by Chris, Jun 11, 2011.

  1. Chris
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    Chris Gold Member

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    Republican leaders left Social Security untouched in their House budget this year, but a group of GOP lawmakers are looking to fill the gap themselves with legislation that would create a voluntary privatized version of the program.

    Introduced by Rep. Pete Sessions (R-TX), who also chairs the House's campaign efforts at the NRCC, the "Savings Account For Every American Act" would allow people to immediately opt out of Social Security in favor of a private "S.A.F.E." account. Eventually the program would expand to let employers send their matching contribution to workers' Social Security to a "S.A.F.E." account as well.

    "Our nation's Social Security Trust Fund is depleting at an alarming rate, and failure to implement immediate reforms endangers the ability of Americans to plan for their retirement with the options and certainty they deserve," Sessions said of the plan, according to The Hill. "To simply maintain the status quo would weaken American competitiveness by adding more unsustainable debt and insolvent entitlements to our economy when we can least afford it."

    House Republicans Look To Privatize Social Security | TPMDC
     
  2. C_Clayton_Jones
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    C_Clayton_Jones Diamond Member

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    Pfft – GWB tried that in 2005 with a republican Congress and got nowhere. Fast.

    Yet more tedious posturing for the TPM.
     
  3. Dont Taz Me Bro
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    Dont Taz Me Bro USMB Mod Staff Member Gold Supporting Member Supporting Member

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    How I wish that were actually true.
     
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  4. The T
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    The T George S. Patton Party Supporting Member

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    Really. That was torpedoded when Bush attempted it...By DemoCraps.
     
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Great! It's worked for Chile. We should do it.
     
  6. uscitizen
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    uscitizen Senior Member

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    Not gonna happen, even with total control of govt the repubs did not even have the balls to submit anything, just talk. Same as now.
     
  7. Chris
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    Chris Gold Member

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    The Republicans can't wait for their buddies on Wall Street to get their hands on all that delicious retirement money.

    They did so well with their derivatives Ponzi scheme.
     
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  8. The T
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    The T George S. Patton Party Supporting Member

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    More TalkingPointMemo DC Bulllshit...

    Chris? LEARN to THINK for yerself for ONCE in yer life?
     
  9. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Well let's see;

    The Democrats plan is to keep it gov't run so that they can continue to steal from it.

    The Republican plan is to change the name of it.

    That about right?
     
  10. uscitizen
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    uscitizen Senior Member

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    True, if they get their hands on SS funds they will truely be too big to let fail.
    The move to the dark side will be complete.
     

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