Scaring us to death is Bush's favorite tactic. This is how he got us into the Iraq fiasco. This is how he won re-election. And this is how he plans to gut Social Security.
The Social Security system is not facing bankruptcy. It is not in crisis. According to the board that oversees Social Security, the system is expected to be healthy for about 40 more years, at which time it would, if nothing is done, operate at 3/4 of its optimum capabilities. A simple and easy adjustment of benefits or payroll taxes would enable Social Security to continue well into the future.
We do not need radical surgery. The president's proposal is indeed radical surgery. Compare the supposed sickness of Social Security with the sickness of a man who has a weak heart. He goes to the doctor, who tells him:
"Your heart is very weak. It can only support 2/3 the amount of blood flow that you realy need to stay healthy. So to reduce the work your heart does by 1/3, we will amputate your two legs."
Do you know of anyone who would agree to this? And yet, this is essentially what Bush is proposing. He says that he wants to take 2% of payroll deductions out of the system. 2% is about 1/3 of 6.2%, the amount deducted in payroll taxes. Of course, he does not stress that he will remove 1/3 of the benefits, as well.
The result of the surgery? You, as a retiree, will receive from the government 1/3 less than you would have received without the surgery. If you were slated to receive retiree benefits of $1,500 a month, after surgery you would receive $1,000. This much is definite.
As far as the invested income is concerned, nothing is sure. Some say you will make 7%. Some say it will be 4.5%. Others think, that with all the fees, it may be only 1.5%. But these are averages. As an individual, you just do not know. On one hand, if you are a financial genius like George Soros, maybe you can make $1 billion or so. On the other hand, if you invest with a crooked financial outfit, you may get defrauded and wind up with ZILCH. We have heard plenty about fraudulent financial outfits lately.
From the day Franklin Delano Roosevelt suggested it until today, Republicans have been against Social Security. For years they have been looking for a way to destroy it, but they have been stymied because the vast majority of Americans love Social Security. Americans love it because it is the most successful piece of legislation ever written.
Our stealthy president approaches such problems with his usual stealth. He doesn't want to destroy Social Security; he wants to save it. It needs saving because it is going bankrupt. Not only will he save it, but you, the citizen, will come out with more money than before.
These are all lies. After Social Security is amputated, people will be upset because the system will not be as good as it was. They will start complaining. Bush or another Republican will say
"Let's get rid of Social Security entirely."
Are you going to allow the Republicans to amputate Social Security and destroy it?
