Democrats Social Security Calculator Un-masked

The Heritage Foundation ^

[countrypundit]

Sen. Reid, Sen. Charles Schumer (D-NY), and other foes of personal retirement accounts today posted an on-line calculator developed by the far-left Center for Budget Policy and Priorities. Those planning to use this calculator should keep in mind a few of the unsupportable assumptions built into it:

[countrypundit]

Clever attempt to undermine the private accounts argument. This "calculator" was glady promoted as news on Thursday and Friday by many media outlets. The Heritage Foundation breaks it down. The fear campaign is in full swing.

[NonValueAdded]

Reid lied, granny will die (OK, starve, but it didn't rhyme)

[Conservative Goddess]

Typical Liberal BS. If the country understood how social insecurity works....or doesn't as the case may be.....there would be rioting in the streets.

If your joe average insurance salesman sold you an annuity, where he pocketed the initial investment, and paid your annuity from the contributions of new "investors".......he'd be thrown in jail.

Social Security Accounting makes Enron seem like small potatos. These crooks have to be exposed for what they are........CROOKS!

[Mariposaman]

It's pathetic the lenghts Dems are willing to go when disproving the oncoming disaster they themselves predicted just a few short years ago.

[Conservative Goddess]

Dunno if this qualifies for a taxreform ping........but thought I'd draw it to your attention.

[hermgem]

It comes down to the basics of ownership versus dependency.
Dependency, which will be irreversible within less than 10 years from now, is entered by first reducing then cutting benefits to the haves. On to be taxed side however these haves find themselves to increasingly contribute.
Haves are those with savings, including homeownership.
Heard of means testing before going into Medicaid?
Once your assets are used up, there is public assistance bureaucracy waiting for you.
This Social Security system as we know it will lead directly into drastic changes towards socialistic behavior as wealth accumulation or passing along your life's savings to your heirs comes to an end.
The welfare party, or future Democrats are the big big winners by doling out and promising in every election goodies to the poor.

[bdfromlv]

The current federal employees retirement system has 3 components 1. retirement benifits 30% of base pay for first 20 years + 1% for each year after 20. 2. social security earned at the regular rate. 3. Thrift savings program or TSP, it has currently 5 investment accounts to put before tax dollars such as the S&P 500, govt bonds, and 3 more investments including foriegn bonds. The minimum return rate of return is the govt. bonds. All govt. employees and the military are allowed to join and make money. Why not all citizens. the plan is already in place and has about 3 million members and over 60 billion in investments and increasing monthly.

[Go_Raiders]

"The current federal employees retirement system has 3 components 1. retirement benifits 30% of base pay for first 20 years + 1% for each year after 20..."

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Is component 1 fully funded? Or is it just a higher paying Ponzi scheme?

Oh wait, maybe this from the National Assoc. of Retired Federal Employees will give us a hint:

"Under current practice, the combined employee and agency contributions to the Civil Service Retirement and Disability Fund (CSRDF) totals 14 percent of payroll. However, the full normal cost of CSRS benefits is 25.1 percent." (Actually, I'm surprised they bothered to fund any of the employer share.)

[ancient_geezer]

Bogus calculator by a bogus party. Just a tip of the iceberg I'm afraid.

Dems in Georgia did something similar to the Fair Tax Act last October.

A Taxreform bump for you all.

If you would like to be added to this ping list let me know.

John Linder in the House(HR25) & Saxby Chambliss Senate(S25), offer a comprehensive bill to kill all income and SS/Medicare payroll taxes outright, and provide a IRS free replacement in the form of a retail sales tax:

H.R.25,S.25
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.

Refer for additional information:

• http://www.fairtax.org,
• http://www.salestax.org &
• http://www.geocities.com/cmcofer/ftax.html

[Bigun]

Already posted HERE!

[Badray]

Thanks for the ping.

This brings to mind my favorite question in a movie called "Armed and Dangerous".

A character training to be a security guard asks the trainer:

"If he's lying and we know that he's lying, can we shoot him?"

Well? Can we? If so, it's gonna get awfully noisy.

[bdfromlv]

I am not sure under FERS (the new system) but under the CSRS(civil service)we paid the same percentage as was required for social security but just into the CSRS fund. we dont get to have the SS benefits unless we work 40 quarters of non govt. employement.

[longtermmemmory]

The Democrat ("gay") party is not protecting social security as the MSM mediot enablers would have us believe. The Democrats are trying to PRESERVE THE ISSUE for future use. They are not a party of solutions, they are only a special interest party of ISSUES.

[NobleEagle2004]

I have a Strange Feeling The Dems(Demons)Want to continue too stall SS Reform, in order too Usher in Complete Socialism.

[longtermmemmory]

With all their little special interest groups, the Democrat Party is very vulnerable to an educated public. What happens to all the little groups when they realize the personal account can be left to WHO THEY DETERMINE?