Privatizing Social Security

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Impeach George Bush

Privatizing Social Security

Source: The TIP, 2004-01-21

Candidate: Big Business

I really think Bush's advisors hit the Mother Lode this time.

Privatize Social Security!

Let's see how this scam works. First, EVERYONE that works for a living pays social security. From the lowest paid dish washer to the guys in the suits, EVERYONE pays social security. There's no escaping it if you work. Before you see your pay check, no matter how many dependents you claim, EVERYONE pays.

EXCEPT FEDERAL EMPLOYEES, LIKE CONGRESSMEN AND SENATORS: THEY HAVE THEIR OWN RETIREMENT FUND.

And Employers pay, too. Don't forget the employers.

If the average guy/gal makes $10/hour, the government takes $30 per week in social security. 15% of that is $4.50. The government says it wants you to invest $4.50 a week on the stock market which, as we all know, is about the same as buying a lottery ticket. You win some, you lose some, but mostly you lose.

Multiply your $4.50 times the 100 million people that are working every week. That's $450 million A WEEK of new money invested in the stock market. That's not just moving $450 million from IBM to Microsoft - that's NEW MONEY!FRESH BLOOD!

Now, who is going to decide where that fresh blood is going to be invested? Surely not YOU! No, our government wouldn't want YOU to possibly lose your investment. So, Big Brother is going to HELP you by DIRECTING your investment - you'll have a choice of, say, 100 stocks that "qualify" as "safe" investments. (Like Enron. World Com and the like, but that's another story.)

Who will draw the list? Oh, here's the story.

He's sitting behind a desk. Before him is a line of accountants as long as the eye can see. Each accountant has a briefcase with his company's prospectus to show why his company should be the beneficiary of $450 million a week! There is also an envelope in the briefcase.

The guy sitting behind the desk really isn't interested in the prospectus. He works for the government, so his retirement isn't funded by social security.

So, how does our guy behind the desk decide which company gets all that money?

The envelope, please...just drop it in the drawer.

How is the new immigration policy connected to all this? Currently, all "undocumented workers" that are paid "over the table" also contribute to social security. And their employers have to pony up their matching half of the contribution as well.

But the President's "Guest Worker" scheme will change that. Oh, the "Guest" will still have to put their contribution into the hat. But the employer won't. So, for every "Guest Worker" an employer has, he saves $4.50 per week. Doesn't sound like much, but if a small business employs 20 "Guests" for 3 years, its a saving of nearly $15,000! Now, that's worthwhile!

Yup, this is a win/win. The only losers are the poor saps who gamble with their retirement.

If anyone is really interested in fixing Social Security, there's one sure fire way. Dissolve the Federal Employees Retirement Sytem and transfer all assets to Social Security. When Congress is in the same boat as the rest of us, I guarantee, Congress will Lock the Lock Box instead of Nail the Coffin.
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