Social Security: It is a disgrace
The Bear on Aug 20 2008 at 2:24 am | Filed under: Social Security
Yesterday was the 73rd anniversary of Social Security’s creation, and the Democratic Party took the opportunity to distort the issue even more loudly than usual.
We received no fewer than four press releases claiming that John McCain wants to “privatize” Social Security. That’s a fabrication. The Democrats know it. The media know it. And yet the Democrats continue to get away with this lie because the mainstream media won’t call them on it.
McCain doesn’t want to privatize Social Security. He thinks individuals should be allowed to control how a tiny fraction (about 4 percent) of their Social Security benefits are invested. How is it “privatization” to leave 96 percent of Social Security benefits under the control of the federal government?
It’s not, of course. But Democrats have found that the term “privatization” scares the elderly, so they use it even though they know it’s untrue.
They also love to claim that McCain called Social Security “a disgrace.” Here is what he actually said at a town hall forum in Denver this summer:
“Americans have got to understand that we are paying present-day retirees with the taxes paid by young workers in America today. And that’s a disgrace. It’s an absolute disgrace, and it’s got to be fixed.”
Many Americans continue to think that their Social Security payments are invested on their behalf and are kept in personal accounts with their names on them. That isn’t how it works. The payments you make today are taken out and given to current retirees. That’s not an “investment” in your retirement. That’s simply a wealth transfer, and it is a tremendous disgrace.
It is the reason Social Security will be unable to pay benefits when there are more retirees than younger people paying into the system. The Democrats offer no solution other than raising taxes, which, of course, won’t fix the fundamental problem.
McCain is trying to address the underlying flaw in Social Security. He is trying to salvage it for future generations while continuing the guaranteed benefits for those already in the system. That’s what every politician in Washington ought to be trying to do instead of scaring seniors with lies.
Source: Union Leader.com Editorial
SideBear: Given the mess that government has made out of Social Security and Medicare, do you really want government to run your Health Care?
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