Author Topic: So what's your position on Bush's efforts to reform social security?  (Read 106 times)

TraceOneInfinite Flat Earther 96'

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He wants to privatize social security like he privatized Sadaam's oil industry.  I hate the idea.  It's like rolling the dice with your retirement plan, your going to start seeing more old folks on the street if Bush accomplishes his goal.
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Real American

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Re: So what's your position on Bush's efforts to reform social security?
« Reply #1 on: January 21, 2005, 11:47:04 AM »
Actually, the Democrats social security plan of doing absolutely nothing is what is going to lead to old people living on the street. There are simply too many people retiring in the next 40 years or so and not enough money to pay the benefits. President Bush and the Republicans are smart enough to know that there needs to be reform, and privitization is one step.

I definitely support privitization. Why shouldn't citizens be allowed to place their money (and that is exactly what is is, our money not the governments) into private accounts where they can earn higher rates of return for retirement? That is the difference between Republicans and Democrats. Democrats look at people as inherently stupid and incapable of managing themselves without the government. Republicans like President Bush think people are very capable to manage themselves and should have full ownership of their lives instead of the government.

And people wonder why the democrats can't win an election.....

 

Ant

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Re: So what's your position on Bush's efforts to reform social security?
« Reply #2 on: January 21, 2005, 05:05:12 PM »
Actually, the Democrats social security plan of doing absolutely nothing is what is going to lead to old people living on the street. There are simply too many people retiring in the next 40 years or so and not enough money to pay the benefits. President Bush and the Republicans are smart enough to know that there needs to be reform, and privitization is one step.

I definitely support privitization. Why shouldn't citizens be allowed to place their money (and that is exactly what is is, our money not the governments) into private accounts where they can earn higher rates of return for retirement? That is the difference between Republicans and Democrats. Democrats look at people as inherently stupid and incapable of managing themselves without the government. Republicans like President Bush think people are very capable to manage themselves and should have full ownership of their lives instead of the government.

And people wonder why the democrats can't win an election.....



how's your career going bigot? you have to actually get a decent job before you can care about Social Security.
 

Woodrow

Re: So what's your position on Bush's efforts to reform social security?
« Reply #3 on: January 21, 2005, 06:26:50 PM »
how's your career going bigot? you have to actually get a decent job before you can care about Social Security.

Typical left-wingers. Want equality, but anyone who doesn't share their views shouldn't get to express themselves.

 

TraceOneInfinite Flat Earther 96'

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Re: So what's your position on Bush's efforts to reform social security?
« Reply #4 on: January 22, 2005, 07:08:08 AM »
Actually, the Democrats social security plan of doing absolutely nothing is what is going to lead to old people living on the street. There are simply too many people retiring in the next 40 years or so and not enough money to pay the benefits. President Bush and the Republicans are smart enough to know that there needs to be reform, and privitization is one step.

I definitely support privitization. Why shouldn't citizens be allowed to place their money (and that is exactly what is is, our money not the governments) into private accounts where they can earn higher rates of return for retirement? That is the difference between Republicans and Democrats. Democrats look at people as inherently stupid and incapable of managing themselves without the government. Republicans like President Bush think people are very capable to manage themselves and should have full ownership of their lives instead of the government.

And people wonder why the democrats can't win an election.....



You might be right.  Honestly, I don't know much about this social security issue, I was just trying to get people's opinions on it.  Personally, I don't feel very comfortable with the stock market, so I would want to take my money out of there, would Bush's plan allow me to take it out if I didn't want it there?
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Ant

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Re: So what's your position on Bush's efforts to reform social security?
« Reply #5 on: January 23, 2005, 06:46:53 AM »
how's your career going bigot? you have to actually get a decent job before you can care about Social Security.

Typical left-wingers. Want equality, but anyone who doesn't share their views shouldn't get to express themselves.


I don't believe in the equality of opinion.  I believe in equal rights.  There is no such thing as individual equality some peopel are superior to others, and some arguments are superior to others.  But if you want an analysis of why your opinion on SS reform is inferior Krugman has addressed the issue thoroughly in a few NY Times editorials... But i'll give my 2 cents.

The Bush plan for SS reform is to privatize part of the system, and allow people to have private accounts.  The cost to transfer to this system is 2 Trillion dollars. 
Now ignoring the problems with this decision, and the fact that there really is no SS crisis, it should be blantantly obvious why this is a foolish plan.  The Bush Plan is  to borrow money, and invest it into the stock market hoping the returns exceed the costs.  If you really like this plan you don't need to have it imposed on all of America  you can create your own mock version of the Bush SS plan. Go out, and borrow 100,000 dollars today, and invest it into the stock market and call it your retirement plan. 

This is essentially what Bush wants to do, except he isn't forcing you to go out to the bank and borrow, instead, he is diminishing the value of the money you give the government in the form of tax-dollars by borrowing 2 trillion dollars on top of a record setting deficit.  This would add another 200 billion dollars in debt each year onto our current deficit, driving the deficit to around $700 billion per year, or 6% of GDP.  Currently, the deficit runs at about 4.4% of our GDP.  In other words, under Bush about 5% of our national economy is supported by the deficit.   It certainly doesn't seem financially prudent to drive that number higher by implementing a plan that is akin to borrowing to invest in the stock market.
« Last Edit: January 23, 2005, 07:57:59 AM by Ant »
 

BigBDrugStores

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Re: So what's your position on Bush's efforts to reform social security?
« Reply #6 on: January 23, 2005, 06:50:57 AM »
It's like rolling the dice with your retirement plan
well ss was never a retirement plan. fdr never thought of it as a retirement plan. it was designed as a little suplement tohelp folks get by durring the depression. so if ss is your retierment plan you better get a roth ira.