What's the Real Reason Republicans Want to Do Away With Social Security?

[Flaylo]

Russ Wellen: What's the Real Reason Republicans Want to Do Away With Social Security?

"It's bad enough that the real reason Republicans seek to take a hammer to Social Security is to enrich Wall Street (and, by extension, ensure the continuation of their campaign contributions). Even worse, their "creative destruction" may not enrich them as much as they anticipate. Think about it: from where are the funds that will allegedly be deposited into lifetime savings account on a regular basis expected to come?"



"In the meantime, whenever an official or commentator declares that Social Security needs to be reformed -- disfigured might be a better word -- those of us who feel otherwise need to remind their audience why. One more time: because Big Money hopes to reap a gold mine in fees for managing the program that will augment and ultimately replace Social Security."

Now we know.

 

[bucs90]

Ok, lets simplify this to a high school multiple choice question. There IS a correct answer, btw.

Why do Republicans want to do away with or cut Social Security?

A). They hate black people.
B). They hate old people.
C). They hate disabled people.
D). A, B, and C are correct, especially old, black disabled people
E). Social Security is bankrupting our country and leading us to financial ruin and it's a hard reality that it is no longer sustainable in today's economic situation.


Ok, thats it. A 1 question test. Answer by 6pm today.

 

[Political Junky]

Wall Street wants its hands on the $2.6 Trillion that's in Social Security.

 

[PoliticalChic]

Wall Street wants its hands on the $2.6 Trillion that's in Social Security.

On the other hand, if there were an element of privitization, the funds in one's account could be willed to beneficiaries....

don't you like that aspect?

 

[kaz]

Russ Wellen: What's the Real Reason Republicans Want to Do Away With Social Security?

"It's bad enough that the real reason Republicans seek to take a hammer to Social Security is to enrich Wall Street (and, by extension, ensure the continuation of their campaign contributions). Even worse, their "creative destruction" may not enrich them as much as they anticipate. Think about it: from where are the funds that will allegedly be deposited into lifetime savings account on a regular basis expected to come?"



"In the meantime, whenever an official or commentator declares that Social Security needs to be reformed -- disfigured might be a better word -- those of us who feel otherwise need to remind their audience why. One more time: because Big Money hopes to reap a gold mine in fees for managing the program that will augment and ultimately replace Social Security."

Now we know.

The reason to end Social Security/Medicare and Obama Care is that they are the two most evil domestic agendas ever perpetrated on the American people by politicians, and for the same reason. They make the American people dependent on government for their basic needs. That gives government the ultimate power over them and it's why the Democratic party has fought so hard for those initiatives. Social Security is pure evil.

 

[Sallow]

Wall Street wants its hands on the $2.6 Trillion that's in Social Security.

When Bush announced his SSI plan..freakin champagne bottles were a poppin' on Wall Street. The Market went crazy.

 

[kaz]

Wall Street wants its hands on the $2.6 Trillion that's in Social Security.

On the other hand, if there were an element of privitization, the funds in one's account could be willed to beneficiaries....

don't you like that aspect?

What's funny is that Democrats fight so hard to prevent privatization when in fact there are zero assets in social security. They talk about how it somehow protects people from market swings, but it actually protects people from having a retirement fund with actual assets in it. Social Security is going to be paid by future taxpayers. Period.

 

[Sallow]

Russ Wellen: What's the Real Reason Republicans Want to Do Away With Social Security?

"It's bad enough that the real reason Republicans seek to take a hammer to Social Security is to enrich Wall Street (and, by extension, ensure the continuation of their campaign contributions). Even worse, their "creative destruction" may not enrich them as much as they anticipate. Think about it: from where are the funds that will allegedly be deposited into lifetime savings account on a regular basis expected to come?"



"In the meantime, whenever an official or commentator declares that Social Security needs to be reformed -- disfigured might be a better word -- those of us who feel otherwise need to remind their audience why. One more time: because Big Money hopes to reap a gold mine in fees for managing the program that will augment and ultimately replace Social Security."

Now we know.

The reason to end Social Security/Medicare and Obama Care is that they are the two most evil domestic agendas ever perpetrated on the American people by politicians, and for the same reason. They make the American people dependent on government for their basic needs. That gives government the ultimate power over them and it's why the Democratic party has fought so hard for those initiatives. Social Security is pure evil.

Here ya go..

A less evil place.

No depending on government there..

Cheap Flights to Somalia - TripAdvisor

 

[Soggy in NOLA]

I really don't care, but I would like to take my money and get the hell out. And stay out.

 

[Barb]

Wall Street wants its hands on the $2.6 Trillion that's in Social Security.

On the other hand, if there were an element of privitization, the funds in one's account could be willed to beneficiaries....

don't you like that aspect?

On the other hand, the companies that "service" those accounts can go bankrupt, and living people AND their beneficiaries can be ass out. Of course, it will then be their own fault for risking their $$, not the fault of those who gambled it in whatever high risk casino the managers of it lost it in. The would be retirees will then be greeting people at WalMart, and the investment houses that lost it would, once again, be "too big to fail."
Ah, American Crapitalism at its finest. Privatization for the citizen paying the taxes, and socialism for the entitled business class.

 

[PoliticalChic]

Wall Street wants its hands on the $2.6 Trillion that's in Social Security.

When Bush announced his SSI plan..freakin champagne bottles were a poppin' on Wall Street. The Market went crazy.

You're not pretending that there is some rule against a private citizen 'non-WallStreeter' investing in stocks, are you?


"The Mutual Fund Industry group - Investment Company Institute - has a lot of data on this subject. Its 2002 study, http://www.ici.org/pdf/rpt_02_equity_owners.pdf showed that 49.5% (or 52.7 million) of US Households owned equities in some way shape or form in 2002. However, only 21 million (less than 20%) owned individual stocks outside an employee sponsored plan. "

Read more: Answers.com - What percentage of Americans own stock

So, you could invest as well, and be a Wall Street winner, too!

Oh, I get it: you're one of those covetous guys who can't stand it if someone else does a little better...

 

[Skull Pilot]

the reason to get rid of SS is so that working people actually have a chance of accumulating some real generational wealth.

 

[PoliticalChic]

Wall Street wants its hands on the $2.6 Trillion that's in Social Security.

On the other hand, if there were an element of privitization, the funds in one's account could be willed to beneficiaries....

don't you like that aspect?

On the other hand, the companies that "service" those accounts can go bankrupt, and living people AND their beneficiaries can be ass out. Of course, it will then be their own fault for risking their $$, not the fault of those who gambled it in whatever high risk casino the managers of it lost it in. The would be retirees will then be greeting people at WalMart, and the investment houses that lost it would, once again, be "too big to fail."
Ah, American Crapitalism at its finest. Privatization for the citizen paying the taxes, and socialism for the entitled business class.

You know, maybe we could get a government that will make certain that you can't get hit by a bus!

 

[kaz]

The reason to end Social Security/Medicare and Obama Care is that they are the two most evil domestic agendas ever perpetrated on the American people by politicians, and for the same reason. They make the American people dependent on government for their basic needs. That gives government the ultimate power over them and it's why the Democratic party has fought so hard for those initiatives. Social Security is pure evil.

Here ya go..

A less evil place.

No depending on government there..

Cheap Flights to Somalia - TripAdvisor

Miss the Soviet Union, do you? There is still North Korea...

Since you don't really read posts you're responding to, I bolded the key part you whiffed on. Social Security is not a "safety net," everyone is forced by government guns to participate. It makes the people, everyone, dependent on government, for their basic needs. That is the ultimate power government can have. Is there not anything that it scares you for government to do other then read your e-mail?

 

[GHook93]

Russ Wellen: What's the Real Reason Republicans Want to Do Away With Social Security?

"It's bad enough that the real reason Republicans seek to take a hammer to Social Security is to enrich Wall Street (and, by extension, ensure the continuation of their campaign contributions). Even worse, their "creative destruction" may not enrich them as much as they anticipate. Think about it: from where are the funds that will allegedly be deposited into lifetime savings account on a regular basis expected to come?"



"In the meantime, whenever an official or commentator declares that Social Security needs to be reformed -- disfigured might be a better word -- those of us who feel otherwise need to remind their audience why. One more time: because Big Money hopes to reap a gold mine in fees for managing the program that will augment and ultimately replace Social Security."

Now we know.

It couldn't be that its bankrupt takes up 22% of the Federal budget, its unsustainable, its not invested so it doesn't beat inflation or put the money to work and its so poorly managed that waste is everywhere like every government run program.

Lastly, Huffingglue Post should do its fact checking, the Democrats get just as much money and the some even more than the Republicans. Obama was a Wall Street highroller during the elections.

Also you might find one or two Republicans that argue that point, but getting rid of SS is not the Republican stance and that is why the elderly generally votes Republican!

 

[Barb]

On the other hand, if there were an element of privitization, the funds in one's account could be willed to beneficiaries....

don't you like that aspect?

On the other hand, the companies that "service" those accounts can go bankrupt, and living people AND their beneficiaries can be ass out. Of course, it will then be their own fault for risking their $$, not the fault of those who gambled it in whatever high risk casino the managers of it lost it in. The would be retirees will then be greeting people at WalMart, and the investment houses that lost it would, once again, be "too big to fail."
Ah, American Crapitalism at its finest. Privatization for the citizen paying the taxes, and socialism for the entitled business class.

You know, maybe we could get a government that will make certain that you can't get hit by a bus!

SO not the point. And you KNOW its not the point.
There are certain things the "private sector" isn't good at, especially where it comes to the safeguarding of other peoples money. That takes government regulation, or else the private sector considers it their fiduciary responsibility to the major shareholders of THEIR stock to maximize their profits (and their CUT) whatever the cost is to the lowly peon citizen.
Left alone, SS would have been fine. It had ONE function, ONE purpose, and that was not to fund foreign adventures or pretend the budget balanced (or waved) when nothing could have been further from the truth.

 

[driveby]

Wall Street wants its hands on the $2.6 Trillion that's in Social Security.

That would be up to the individual, not Wall Street. You idiots really think the government is honest and Wall Street are crooks, so naive.........

 

[Vanquish]

The dirty, little secret of Social Security is that Americans lack the will-power to save. That's it!

I think SS should be done away with altogether because I have the ability to save my own money. But if we let everyone do that, a bunch of fools would blow through their salaries and never save anything.

Tough shit for them, says the conservative. Well hold yer horses. They'll end up swelling the ranks of the impoverished and cost us money anyway.

As far as privatization goes...I don't mind it...but I think we ought to be given a choice. Either keep it in the government system (yeah most people wouldnt but some might) or make a separate account that gets invested like another IRA.

 

[editec]

Wall Street wants its hands on the $2.6 Trillion that's in Social Security.

Yes and can you imagine what that would do to the market if they did?

While no doubt the functionaries (read brokers and banksters) would make huge money on the transations, what do you suppose the PE ratios would look like if a couple trillion dollars started chasing those stocks?

FYI the average value of daily trading on the NYSE in 2008 was about $153 billion.

Now throw in the weekly 15% of people's paychecks into that daily mix.

What does all the above spell?

BUBBLE​

And what stock market bubbles do, folks?

They burst..or in the venacular of the economy, they CORRECT to better reflect expected future earnings.

This is just one more of the GOP's truly stupid ideas.

 

[driveby]

The dirty, little secret of Social Security is that Americans lack the will-power to save. That's it!

I think SS should be done away with altogether because I have the ability to save my own money. But if we let everyone do that, a bunch of fools would blow through their salaries and never save anything.

Tough shit for them, says the conservative. Well hold yer horses. They'll end up swelling the ranks of the impoverished and cost us money anyway.

As far as privatization goes...I don't mind it...but I think we ought to be given a choice. Either keep it in the government system (yeah most people wouldnt but some might) or make a separate account that gets invested like another IRA.

Right, because every American lives off of SS when they retire, no investments of their own, no 401 k's or anything like that, negro pleeez.......