Bush's SS Plan

[5stringJeff]

Not that this is really "news," but it's nice to see some specifics. I sure hope this passes.

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Bush Soc. Sec. Plan to Allow Investment
By LEIGH STROPE, Associated Press Writer

WASHINGTON - The Bush administration is focusing on a Social Security (news - web sites) proposal that would allow younger workers to invest up to 4 percent of their payroll taxes in private accounts, with contributions limited to about $1,000 to $1,300 a year, an official said Tuesday.

Yahoo News Story

 

[Shattered]

That's one of the things he claimed to be working toward in one of his debates.. Hopefully, it pans out, because the way things look now, I won't see a dime of "my" money by the time I'm ready to retire...

 

[OCA]

Lol I thought this was some more bullshit from Bully comparing Bush to Hitler's SS. :cof:

 

[Said1]

Lol I thought this was some more bullshit from Bully comparing Bush to Hitler's SS. :cof:

Haha, so did I!

 

[manu1959]

i thought it was a Super Secret plan to start up the draft

 

[tim_duncan2000]

I think it's odd how people complain about his proposal, and yet their proposals are worse, if they even have one at all. I really liked Kerry's (never raise retirement age, never cut benefits, and pretty much maintain the status quo) plan. Here is an excellent article on this issue:

http://www.cato.org/dailys/08-09-04.html

 

[ScreamingEagle]

I think it's odd how people complain about his proposal, and yet their proposals are worse, if they even have one at all. I really liked Kerry's (never raise retirement age, never cut benefits, and pretty much maintain the status quo) plan. Here is an excellent article on this issue:

http://www.cato.org/dailys/08-09-04.html

Democrats don't want to change anything that will take away their control of OUR money.

If the government has done such a swell job with the SS, then why are we facing huge deficits during the coming Baby Boomer rush which will bankrupt the entire system by 2028?

There may need to be temporary tax increases to fund SS for the Boomers, but if Bush's plan catches on, supposedly there will be no great need for a huge tax burden to provide for future generations. Of course, this plan is coming a bit too late for the impending Boomer problem and you know the Democrats are going to make hay with it.