Bush''s speech tonight

[ammayernyc]

Does anyone know whether Bush''s speech will be preempting the regularly scheduled shows? (So sad, but I need to know whether I should reset my DVR)!

 

[movie zombie]

doesn''t seem like there are many people planning to listen....

peace, movie zombie

 

[Jennifer5973]

I am really afraid of his ideas for Social Security. I only know a little but I think they should leave it alone---that''s what "social security" means--something that will be there no matter what... I work in financial services and people can''t even manage their 401(k)s properly, let alone trying to invest their Social Security funds...

What do others think?

 

[AGBF]

Date: 4/28/2005 9

3:48 PM
Author: Jennifer5973
I am really afraid of his ideas for Social Security. I only know a little but I think they should leave it alone---that''s what ''social security'' means--something that will be there no matter what...

FDR noticed that people fell into poverty when they became elderly. That is why he started the social security program. Back in those days (he took office in 1933), people were generally hardworking and frugal...they saved what they could. But there was *STILL* a tendency for people to get poor when they got old and helpless. Social security was started for people who had *worked*, not for people who had not. It was not a welfare program. Now it is being treated as a luxury, rather than the necessity it has proved to be in the past 60+ years.

Deborah

 

[Jennifer5973]

Date: 4/28/2005 9:47:54 PM
Author: AGBF

Date: 4/28/2005 9

3:48 PM
Author: Jennifer5973
I am really afraid of his ideas for Social Security. I only know a little but I think they should leave it alone---that''s what ''social security'' means--something that will be there no matter what...

FDR noticed that people fell into poverty when they became elderly. That is why he started the social security program. Back in those days (he took office in 1933), people were generally hardworking and frugal...they saved what they could. But there was *STILL* a tendency for people to get poor when they got old and helpless. Social security was started for people who had *worked*, not for people who had not. It was not a welfare program. Now it is being treated as a luxury, rather than the necessity it has proved to be in the past 60+ years.

Deborah

Thanks, Deb. I had understood that much in terms of its history, which is why i feel it should be left alone, with efforts made to secure its longevity. As you said, it is a necessity.

 

[movie zombie]

yep, leave it alone.

peace, movie zombie

 

[strmrdr]

SS was a scam from the start.
Less than 5% of the people paying in were expected to live long enough to collect.
I dont expect it to be around when I retire.

 

[mrssalvo]

dave ramsey

Personal retirement accounts would be voluntary. At any time, a worker could "opt in" by making a one-time election to put a portion of his or her payroll taxes into a personal retirement account.
Those workers who do not elect to create a personal retirement account would continue to draw benefits from the traditional Social Security system, reformed to be permanently sustainable.

makes sense too me..

 

[movie zombie]

we already have investment retirement accounts: 401k''s, iras, etc.

social security is ''insurance'' and does more than assist retirees. it is also there to help the children of parents who die and the surviving spouse.

the original plan put forth to ''privatize'' social security would allow me to put $$$ into a personal account but woud NOT allow me to withdraw that $$$ at any time,, even when i retire....the most i could do would be to withdraw the interest earned on that same $$$. so what if there is another stock market crash?!

sorry, if i want to gamble, i can do that in reno or with my 401k, ira, etc. i can''t tell you how many people i know don''t do the existing privatized accounts because they don''t know about or understand the market. i''ve seen phd''s get screwed by financial advisors.

peace, movie zombie

 

[AGBF]

Date: 4/30/2005 3

2:26 AM
Author: movie zombie
social security is 'insurance' and does more than assist retirees. it is also there to help the children of parents who die and the surviving spouse.

Of course I agree with everything you said. I also want to mention Social Security Disability (SSD) which helps permanently and totally disabled people who have put into the system for ten years prior to becoming disabled and the children of eligible Social Security contributors under 18 who become permanently and totally disabled before they turn 18.

"Reforming" social security means turning back the clock so that only the wealthy-not the worker-can afford to become old and sick or to take care of his disabled children.

Deborah

 

[Jennifer5973]

Date: 4/30/2005 3

2:26 AM
Author: movie zombie

sorry, if i want to gamble, i can do that in reno or with my 401k, ira, etc; i can''t tell you how many people i know don''t do the existing privatized accounts because they don''t know about or understand the market; i''ve seen phd''s get screwed by financial advisors.

SO TRUE.

 

[fire&ice]

Something has to be done because it''s gonna be dry by the time we retire - if not much sooner. The situation is pretty bleak considering companies that offer pension plans are far and few between (teachers, military, gov. employees are the only ones that come to mind). It was unusual for a company to not offer a pension plan. And, even some counting on the plan, the money has vanished.

Though vested, neither of us are counting on it. If we receive it, it''s gravy. Plus, hubby thinks he has already received more than his share. His father died when hubby was age 8.

I think the indexes need to be rethought and the retirement age raised. I don''t think anyone really looked into the future to see people living that long & sooo many of them. The SS issue should have been looked at decades ago. And, I have a little storm thought in me as well. Though not a total scam, certainly a way of raising funds.

I don''t have the answer except for young people to start their retirement accounts now. The boomers probably will be the most affected. Less time to see the writing on the wall. The only savings grace could be that the boomers stand to inherit significant wealth from their parents.

 

[Basil Hallward]

Text of Bush''s Speech

Life After the Oil Crash

"Liberal" Social Security Website

"Conservative" Social Security Website

I apologize for posting so many links. 

Please read and form your own opinions.  Don''t be swayed by the Coulters, Frankens, Limbaughs, and Mahers of the world. 

Thanks!