The Associated Press reports that most of the republicans running for president in 2012 support a plan that would privatize social security for future retirees. That's our kids and our grand kids.
Wall Street is not satisfied with its government bailouts. It's not satisfied with the pile of profits it is sitting on now. It wants our children's future retirement benefits too-- insurance benefits that they (if they're lucky) are working for now. Social Security is retirement insurance, funded by workers' payroll taxes. Currently, incomes over $106,500 are exempt from the payroll tax. The payroll tax cap should be lifted, so that higher income earners contribute too.
"Former Massachusetts Gov. Mitt Romney has a version. Reps. Michele Bachmann of Minnesota and Ron Paul of Texas have said younger workers should be allowed to invest in alternative plans. Texas Gov. Rick Perry has raised the idea of letting whole groups, such as state and local government workers, opt out of Social Security."
"Romney says the stock market collapse in 2008 shouldn't scare workers away from investing in private accounts, but acknowledges it's an issue."
Damn right it's an "issue." If Romney thinks American workers should trust Wall Street with our retirement security, he underestimates our intelligence.
Perry has helped make Social Security a leading issue in the campaign by writing in his book, "Fed Up!" that the program is a "Ponzi scheme" and a "failure."
Perry boasts that his provocative language is forcing the candidates to talk about an important issue. "Other candidates in this race were content on continuing to sweep it under the rug and continuing the status quo," Perry spokesman Mark Miner said."
About that "status quo..."
The Bush era tax cuts for the rich are now in their second life, with an extension that never should've happened and the phony "Job Creators" haven't created any jobs. Where are the jobs, creators?
Ponzi Scheme? I poured my blood sweat and tears into jobs that deducted FICA taxes from my wage slave paychecks. It's no entitlement. I worked for it.
The ponzi scheme is Wall Street.
Republicans destroy good jobs that do provide pensions for their workers--union jobs, and now they have the audacity to propose selling off our kids' and grandkids' social security retirement to the den of thieves on Wall Street. No Way.