Posted on 10/18/2007 10:07:04 AM PDT by Fred
"Though you might have missed it, the best method for such a fix was offered by Fred Thompson this month in the Republican presidential candidates' debate. In Michigan, Thompson said that ``one of the things that could be done would be to index benefits to inflation. Index benefits to inflation for future retirees.''
According to this article the savings would be:
"`a reduction in growth.'' Inflation indexing would reduce the Social Security shortfall of trillions of dollars by more than two-thirds."
This kind of savings should be able able to unite the Supply Siders and Keynesians long enough to get this change made...
You better run that by the AARP first, Fred.
In any case, the Democrats' answer is ALWAYS raising taxes, while crowing about the "mean Republicans" forcing Seniors to eat dogfood, and poor folks "starving", etc.
FRed's plan would work, but is a tough sell when the extreme rhetoric of the Lefties starts drumming on the MSM continuously.
Most Baby Boomers I know have not put themselves in a position to depend on Social Security alone for survival after retirement. Providing benefits to illegals (which the Dem's and Repub's have both indicated they could support) will exacerbate the problem even more.
I dont know what any of this means....I am fiscally impaired.
AS long as I have no choice whether to put into SS or not, I want what I paid in with a reasonable interest on that.
I oppose SS, but I want whats coming.
My parents got screwed on SS by Jimmah and the notch baby deal, and I will have to be taken out screaming and kicking if any politician tries to pull that one.(I dont assume that, that is what this is.....I have no idea what this is all about)
More accurately, they have been forced to contribute into the system rather than be allowed to fund their own retirement/investment plan with that contribution
Yeah Bush said the private accounts were for future retirees too. It didn’t stop the AARP one bit from scaring the pants of seniors.
Most of the working class folks I work with were given a great free retirement plan back in 1979, just like I was. My wife who also works here had the same plan.
in the early 90’s, the company went from not for profit to for profit. the plan ended, and the wife and I elected to keep the plan and it has gained considerably through compounding of interest.
Most everyone else here, found a way to cash theirs in and get their house fixed, new car etc.
they will have nothing.
maybe its a white collar thing you are talking about, having a plan, but most of the country is NOT white collar and have not funded for their retirement.
That group is so mis-guided and provides so much dis-information to their membership (which consists largely of extrememly gullible and vulnerable seniors) so as to create a voting bloc for Democrats only.
I didn't join AARP when eligible to do so, and I let them know why. I got off their propoganda-mailing list, and they are worthless in my estimation.
Uh...yeah... I don’t disagree. Be that as it may, Fred’s gonna have to deal with them if he becomes president and wants to touch Social Security.
AARP will raise a rukus along the unions, public and private sector. A reduction in COLAs will be fought tooth and nail. And unlike the young, seniors vote in greater numbers. By 2030 we will have 70 million Americans of retirement age, twice the number we have today.
You're absolutely right, in that the forced contributions had to be made, but alternative investments were made additionally.
Given the option of putting your money into the Ponzi scheme, or putting your money into investment portfolios, only those that vote Democrat ("the government should take care of me") would choose the SS system as a "retirement plan".
Had all baby boomers been contribution at least 15% of their income to investments, rather than the forced SS tax, they would be so positioned today as to have a full-funded and comfortable retirement that THEY control, instead of the a$#holes in Washington.
Well said. What I think is going to happen whether we like it or not is tax increases. They will also push back the age of retirement after grandfathering people in over 50 or so. Tough break for young people. They'll get hurt big time. Of course they don't pay attention or they would have jumped at the chance for private accounts but they went right along with the Democrats who said Republicans REALLY wanted to end Social Security. I really doubt Fred will be able to pull this off - especially with a Democratic Congress.
So what exactly is your point?
Hopefully, still lucid enough to understand the Plantation rhetoric of the Dem's is NOT in their best interest, AND FRed's plain talk and common sense solutions will ring true to the experienced and realistic Seniors of the Baby Boomer generation.
That said, if you see the Code Pinker's and the Anti-War Protesters that are made up of wannabe-hippies from that era, you KNOW that a large portion of these will offset the knowledgeable and common sense numbers of the 60's generation.
Keep reading my subsequent posts. But to sum it up... AARP will fight him all the way and if elected Fred will have a Democratic Congress.
You want to pass that doobie this way, dude? Sorry for not being optimistic. Private accounts was a great idea too. That didn't even come to a vote in a Republican Congress. Hey maybe I can get some of that stuff you're smoking on the drug plan. ;-)
The point is not to touch the third rail lest you be zapped.
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