Sunday, January 8, 2012

The Republican Plan to End SOCIAL SECURITY as We Know It and Not Only Kick Granny to the Curb, but Stomp on Her While She's Down!

If Republicans win the Presidency and the Senate AND keep the House, they will implement their agenda and Destroy Middle Income and Poor Americans. They plan to End/Privatize Social Security, Destroy the Unions, Reduce/End Unemployment benefits and Reduce the minimum wage.
Today, many seniors rely primarily on their Social Security checks as their only means of support and for their survival. While some Republicans say their proposals will not impact anyone born before 1955, on Friday, Republican Presidential Candidate Rick Santorum called for immediate cuts NOW. Santorum wants to increase the Social Security age to 75 and he wants "means testing." Republican Paul Ryan's plan is to replace Social Security with private savings accounts provided by Big Business.
It is clear, Republicans are NOT interested in the NEEDS of our senior Americans. They are pandering to their Big Business backers. Republicans portray the Social Security fund as being insolvent right now. They are LYING to the American public and they know it.
Today, the Social Security Fund has a SURPLUS. During 2011, the Social Security Trust Fund held $2.6 trillion. Even by Republican statistics, the Social Security fund will remain in surplus through the 2030s. The problem is, starting with the Reagan Administration, the government started borrowing from worker contributions. By 2015, the government is expected to have borrowed nearly $3.25 trillion from the Social Security Trust Fund.
Now let's suppose the Republicans win the election. If they are successful in passing a bill that will END Social Security as we know it, their bill will wreak havoc on our American Seniors:

1. Up the retirement age to 75: Workers in their 50s are having difficulty finding work now. As these workers get into their 60s and 70s, with so many in poor health, how will they find jobs? How will they live if they cannot find or are unable to work and have no income?
a. Big Business GETS RICH - By Privatizing Social Security, what a windfall for Big Investment Companies, the Big Business groups that pay so much to Republican/Politicians' Political Action Committees (PACs).
Question: How many people in America utilize private retirement savings accounts today? (many)
More Importantly: How many Americans who have ACCESS to their retirement funds KEEP IT in their retirement funds, until retirement, at a rate that will allow them to earn a monthly income that will help them survive for the rest of their lives - as Social Security does? The answer - LESS THAN 10%.
Why? Most People who have these type of accounts and have access to their retirement funds withdraw or borrow from them. Life has countless emergencies.
But, what will happen to these millions of elderly Americans who have NO RETIREMENT FUNDS? Republican Scrooges would say "Let them Die and decrease the surplus population."

b. NO PAYBACK TO AMERICANS: With Republican plans to change Social Security immediately, what happens to all of the money each of us have invested into the Social Security Fund? Are Republican proposals planning on giving our funds back to us? Are Republican proposals insisting checks be written to each American who has contributed so we can privately invest our contributions? (NO!)

3. MEANS TEST: Wait until you hear this one. Republicans want to reduce payments to anyone who makes over $55,000 a year. Imagine. Pay into social security but NEVER receive any Social Security checks when we are old and cannot work.
These Republican Plans will have a vast impact on the majority of American Seniors. These Republican plans will put many Seniors into bankruptcy and ruin.

Today, The truth is, over ninety percent of Americans who have access to their retirement funds BORROW or WITHDRAW these funds prior to their retirement.
The truth is, over fifty percent of Americans over 65 rely on their Social Security as their sole means of support. Without Social Security, they will be forced out of their homes and onto the streets. No food. No healthcare. No place to live. Nothing.
The truth is, WE THE PEOPLE cannot and should not elect a Republican as President in 2012.
I advise All AMERICANS to study the Republican proposals. READ about them. Understand them for yourselves.

Their Ludicrous Title to their Plan: "Saving the American Dream - The Heritage Plan to Fix the Debt, Cut Spending and Restore Prosperity."
. Page 11: Changing Social Security

There is a way to ensure Social Security will stay at a level that will sustain our Seniors through the decades and centuries ahead. The fix is simple. Afterall, the Social Security Fund was meant as a form of insurance. We all pay our Social Security taxes. We should be able to collect when we retire while keeping the retirement age where it is.
Here is one small change that will immediately FIX Social Security with LITTLE IMPACT to anyone:
. MODIFY THE PAY IN CAP: Today, each year, workers PAY IN to the Social Security Fund until they earn about $100,000. After that, they stop paying social security taxes for that year

This means someone who earns $400,000 a year only pays social security taxes until March, while the rest of us continue to pay 7.65% of our wages into Social Security for the remainder of the year.
Millionaires pay for one month only.
IF we changed the PAY IN CAP to $250,000, we would more than DOUBLE our Social Security Tax Fund. People making $400K would still only pay into the fund until July and the millionaires only until March.


Dee said...

To everyone who finds it difficult to believe that the Republicans' plan is to rip out Medicare and Social Security right from under you, please, please, please, go to their own website and READ IT FOR YOURSELVES!

Title to their Plan: "Saving the American Dream - The Heritage Plan to Fix the Debt, Cut Spending and Restore Prosperity."
. Page 11: Changing Social Security


Dee said...

here's the pdf file.
Go to page 11.

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