Will the President's Social Security Plan Hurts Survivors?
Social Security is often thought of as a safety net for seniors in this country. But what's often forgotten is that survivors of those who die or become disabled before reaching retirement age are also entitled to Social Security funds. In fact, currently 4 million children collect Social Security survivor's benefits ever month.
Well, according to a study by the Economic Policy Institute, these special beneficiaries would lose 9.4% of their survivor benefit ($3,000 per year in today's money) with private accounts. The outlook is even worse for African-Americans and Hispanics. Read the whole report, and speak out about the dangers of privatization.
Social Security: its about the kid down the street whose mom died.
--Posted by Nicole Brown
Well, according to a study by the Economic Policy Institute, these special beneficiaries would lose 9.4% of their survivor benefit ($3,000 per year in today's money) with private accounts. The outlook is even worse for African-Americans and Hispanics. Read the whole report, and speak out about the dangers of privatization.
Social Security: its about the kid down the street whose mom died.
--Posted by Nicole Brown
posted by Anonymous at 11:15 AM
14 Comments:
WHAT!?!
Are you kidding me? Even with G.W. Bush's pathetic nonproposal for privatization the whole point is that the money you save in a private account is actually based on real assets which can then be passed on to whoever congress says you can as opposed to the current situation where the funds for survivors come from tax revenue. You guys never cease to amaze me with how much B.S. you're willing to print on your site without being completely ashamed of yourselves. Does your Mom know how dishonest you're being here? Well I'm gonna tell her.
www.socialslavery.com
Social Security is not just about the orphan down the street. It affects all of us therefore it is about all of us. What percentage of SS benefits go to orphans vs retirees?
I challenge anyone who reads this blog to tell me one industry The Govt. is involved in where the Govt entity runs more efficiently then private enterprise.
Be afraid of any political party that is too afraid to let you have control of your own money.
with all the articles and papers out there, the truth is usually somewhere in the middle.
Thanks for the link. It is interesting. I do think that a lot of people would suffer if SS was eliminated or if ALL of it was diverted into personal accounts. Hopefully we'll be able to come up with a compromise.
I challenge anyone who reads this blog to tell me one industry The Govt. is involved in where the Govt entity runs more efficiently then private enterprise.
How about cooking the books? Stealing funds? Acquiring property? Hiding paid-for trips around the globe?
There you go, four examples, what do I win?
Noid, don't expect Rock the "I Love SS" Vote to ever comment on SS reform with anything less than contempt and malice.
I don't expect Crock The Vote to be honest about social security I just want people who might want to learn more about it to read an honest discussion of the issues.
www.socialslavery.com
Did anyone else run across the yahoo news article "House delay means Social Security overhaul not likely this year"? According to the article any vote on SS will be pushed back to 2006. Here's the link if you're interested... http://news.yahoo.com/s/krwashbureau/20050713/ts_krwashbureau/_bc_socialsecurity_wa_1
You got me on that one Sean. I cannot respond.
It is sad that people spout out as if they have done the research. For a social problems class I decided to research the "Social Security Crisis".
Sadly since its inception the Social Security Act was flawed and politicians from all sides of the isle have not done anything to truly fix the problem. A surplus of funds appeared so early into its inception that politicians were unable to hold onto and backed up the start of Social Security Payments a year earlier than planned in the late 1930's.
Whenever there was a surplus, rather than truly paying off debts owed to foreign countries or private investors elected officials decided to increase the quantity and rate at which benefits accrued or use smoke and mirrors and say that we didn't have a tax deficit for the year (Bush, Clinton, and so many others). Social Security would make a ten year surplus that would disappear in less than five for benefit increases forcing it back into debt.
Privatization has been successful the Thrift Savings Plan (TSP) was so successful for federal employees that it was expanded to members of the military. It is a template for success in privatization.
Had privatization occurred years ago there could have been money invested in American companies that could have invested in technological advances and employment. Sadly our politician on BOTH sides of the isle feed their constituents pork that eats up taxes that could have been used to paying off debts.
Privatization is not perfect, but if we keep this system up look for your Social Security Taxes (FICA) to stay the same and your Federal Taxes to skyrocket, or watch both of them rise.
Imagine a public company that invested its workers retirement savings into paying off it's debt as long as they promised to pay it back.
Is partial privatization perfect no, but it is better than the Doomsday Scenario we are riding now.
Don’t just read a BLOG and parrot others opinions, get off your ass and make your own opinion by reading articles in “Scholarly Journals” (Peer Reviewed) by those that know what they are talking about Accountants, Social Scientists, Political Scientists, etc in Strategic Finance, The CPA Journal, Journal of Sociology and Social Work, to name a few.
I don't know what to believe - there is so much propaganda from every side. What I do know is that the politicians could care less about you and me when it comes to our future and Social Security. THEY don't have to worry about their future because THEY have big, fat pension funds and other benefits WE are helping pay for. THEY WILL HAVE A COMFORTABLE RETIREMENT - AT OUR EXPENSE. If they had to rely on Social Security, they would be doing more to make sure, if it is really true that Social Security is in trouble, the problem is fixed because they would have something at stake, too. DON'T FORGET Social Security is something that we pay into and so does our employer in most cases (unless you are part-time or self-employed - I don't know of any other possible exceptions). Unlike "investments" which are unstable, Social Security is supposed to be a retirement resource we can rely on. Not to mention helping those survivors. This is an issue that really torques me off. We pay taxes on just about everything and then our government can't tell us where the money is going. Much of it is going to help other countries, which is great, but don't forget we have issues at home to take care of, too. Help those countries help themselves in other ways, too. Not just with our money. The truth about Social Security needs to be uncovered and the government made accountable for what is being done with OUR money.
Wow. $22,900 in 2080. And you f@#king people get excited over that? Who are you people? Oh yeah,You're the sprout eating pan-beaters who believe we don't live in a capitalist, but socialist nation with an altruistic shroud binding us all together.
I will give a wonderful bit of info. In an ANNUITY, arguably one of the slowest growing, safest investments around, I could receive approximately $3500 dollars a month for the rest of my life after retirement if I were to put in ONLY WHAT I WOULD PUT INTO FICA. Now that's a little bit better than that retard's estimate of $22,900 in the year 2080. Hey a@#hole,thats poverty level now!
BUT DONT TAKE MY WORD FOR IT. Find an annuity calculator online, they are all over the place. Use one of your pay stubs (if you are old enough to work) and fill in the blanks.
And don't give me this "the kids mom down the road died" sh%^. How in the hell do you combine a death and disablity benefit? $15 a month buys a life policy. Look at the prices for short term and long term disability policies in the private sector. WHY DOES IT COST SO MUCH WITH THE GOVERNMENT.
DONT TAKE MY WORD FOR IT. DO YOUR OWN RESEARCH!
Finally, I made a measly $30,000 in the 13 months I fought in Iraq. I came back, worked my ass off,got a six figure salary and refuse to pay the retirement of some d@#ck-head who is 40 years old, working the cash register at taco bell and has $0 in the bank. F&*k you. I proudly sacrificed a lot and yet I don't expect a god-damned thing from anyone. God bless the USA, and go f@#k yourself.
ok look, according to the article we are going to receive more money in 75 years than seniors do currently. Now I don't believe this takes into account inflation, which rises at 2-3% per year. This inflation is compounded every year. Now according to my calculations that 15,000 today if trends are relatively similar to the last 75 years will be 65-$75,000. Correct me if I'm wrong but the benefits have to decrease if they are rising by a very small margin.
Simple: Just create a separate government program to pay survivors. Most people use SS for retirement; most SS payouts are to retirees: therefore, the portion of SS that goes to retirement should be placed in a private account, the portion that's used for survivor benefits can go into the general budget and a new "Widows and Orphans" program can be set up. Heck, Widows and Orphans are such loveable victims, they might actually end up with MORE benefits if their program was part of the general budget.
In short, this is yet another knee-jerk, anti-reform non-issue that is brought up by RTV, AARP, the unions, and the rest of the left-wing to keep the Ponzi scheme that is Social Security going.
p.s.
Good one Noid. "Crock the Vote" Love it!
Key Democrats Supported Social Security Accounts in 2001
The Hyde Park Declaration set goal for creation by 2010.
DLC | Key Document | August 1, 2000
The Hyde Park Declaration: A Statement of Principles and a Policy Agenda for the 21st Century
Full Document : http://www.ndol.org/print.cfm?contentid=1926
We believe in shifting the focus of America's anti-poverty and social insurance programs from transferring wealth to creating wealth.
5. Balance America's Commitments to the Young and the Old
An ever-growing share of the federal budget today consists of automatic transfers from working Americans to retirees. Moreover, the costs of the big entitlements for the elderly -- Social Security and Medicare -- are growing at rates that will eventually bankrupt them and that could leave little to pay for everything else government does. We can't just spend our way out of the problem; we must find a way to contain future costs. The federal government already spends seven times as much on the elderly as it does on children. To allow that ratio to grow even more imbalanced would be grossly unfair to today's workers and future generations.
In addition, Social Security and Medicare need to be modernized to reflect conditions not envisioned when they were created in the 1930s and the 1960s. Social Security, for example, needs a stronger basic benefit to bolster its critical role in reducing poverty in old age. Medicare needs to offer retirees more choices and a modern benefit package that includes prescription drugs. Such changes, however, will only add to the cost of the programs unless they are accompanied by structural reforms that restrain their growth and limit their claim on the working families whose taxes support the programs.
Goals for 2010
• Honor our commitment to seniors by ensuring the future solvency of Social Security and Medicare.
• Make structural reforms in Social Security and Medicare that slow their future cost growth, modernize benefits (including a prescription drug benefit for Medicare), and give beneficiaries more choice and control over their retirement and health security.
• Create Retirement Savings Accounts to enable low-income Americans to save for their own retirement.
Signatories include:
Evan Bayh, United States Senator, Indiana
John Breaux, United States Senator, Louisiana
Lee Brown, Mayor, Houston, Texas
Bob Buckhorn, City Councilman, Tampa, Fla.
Tom Burroughs, State Representative, Kansas
Kevin Cahill, State Assemblyman, New York
Ken Cheuvront, State Representative, Arizona
Michael Coleman, Mayor, Columbus, Ohio
Pat Colwell, State Representative, Maine
Kathleen Connell, State Controller, California
Marti Crow, State Representative, Kansas
Donald T. Cunningham Jr., Mayor, Bethlehem, Pa.
Wayne Curry, County Executive, Prince George's County, Md.
Jim Davis, United States Representative, Florida
Dan DeMarco, Commissioner of Ross Township, Pennsylvania
Dana Lee Dembrow, State Delegate, Maryland
Calvin Dooley, United States Representative, California
Douglas M. Duncan, County Executive, Montgomery County, Md.
John A. Fritchey, State Representative, Illinois
Jeff Gombosky, State Representative, Washington
Ron Gonzales, Mayor, San Jose, California
James S. Gregory, City Councilman, Bethlehem, Pa.
Daniel Grossman, State Representative, Colorado
Lars A. Hafner, State House Democratic Caucus Chairman, Florida
Bob Hagedorn, State Representative, Colorado
Karen Hale, State Senator, Utah
Robert Henriquez, State Representative, Florida
Scott N. Howell, State Senate Democratic Leader, Utah
Sam Hoyt, State Assemblyman, New York
Calvin Johnson, State Representative, Arkansas
Paula F. Julander, State Senate Minority Whip, Utah
Ember Reichgott Junge, State Senate Assistant Majority Leader, Minnesota
Delores G. Kelley, State Senator, Maryland
John F. Kerry, United States Senator, Massachusetts
Kwame Kilpatrick, State Representative, Michigan
Mary Landrieu, United States Senator, Louisiana
Thomas Lazieh, City Councilman, Central Falls, R.I.
Joseph Lieberman, United States Senator, Connecticut
Blanche Lambert Lincoln, United States Senator, Arkansas
Duane E. Little, Assessor, Shoshone County, Idaho
Dannel P. Malloy, Mayor, Stamford, Conn.
Jennifer Mann, State Representative, Pennsylvania
Jack Markell, State Treasurer, Delaware
Stan Matsunaka, State Senator, Colorado
Jonathan Miller, State Treasurer, Kentucky
Tom Miller, State Attorney General, Iowa
Bobby Moak, State Representative, Mississippi
James P. Moran Jr., United States Representative, Virginia
Eva Moskowitz, City Council Member, New York
Ed Murray, State Representative, Washington
Janet Napolitano, Attorney General, Arizona
Martin O'Malley, Mayor, Baltimore, Md.
Marc R. Pacheco, State Senator, Massachusetts
John D. Porcari, State Secretary of Transportation, Maryland
David Quall, State Representative, Washington
Joe Rice, Mayor, Glendale, Colo.
John Riggs IV, State Senator, Arkansas
Antonio R. Riley, State Representative, Wisconsin
Stacy Ritter, State Representative, Florida
Charles Robb, United States Senator, Virginia
Carroll G. Robinson, City Councilman, Houston, Texas
Tim Roemer, United States Representative, Indiana
Linda J. Scheid, State Senator, Minnesota
Allyson Schwartz, State Senator, Pennsylvania
Kathleen Sebelius, State Insurance Commissioner, Kansas
Eleanor Sobel, State Representative, Florida
Ellen O. Tauscher, United States Representative, California
Michael L. Thurmond, State Labor Commissioner, Georgia
Tom Vilsack, Governor, Iowa
Kirk Watson, Mayor, Austin, Texas
J.D. Williams, State Controller, Idaho
Philip Wise, State Representative, Iowa
Jane Wood, State Representative, New Hampshire
Much of it is going to help other countries, which is great, but don't forget we have issues at home to take care of, too.
***************
Glory777
Kansas Treatment Centers
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