Friday, April 29, 2005
Bush's WH News Conference
It should have been called Lie-fest 05, but just some talking points on his WH news conference: 1. Bush has been stealing from the money allocated to Soc Sec (the Clinton surplus & SS trust fund that he raided for his war & wealthy tax cuts). The fact that he's STEALING OUR MONEY is contributing to the potential shortfall SS may face in 43 yrs... stop stealing=more money for SS.
2. Private accounts CANNOT be transferred to your survivors upon your death. People in these accounts will be required to purchase government lifetime annuities.
3. Bush claims that investing in bonds will be safe and secure, but a few weeks ago he said that they are simply IOU's: "The president ridiculed both these certificates and the four-drawer file cabinet in which they are stored, insinuating that Treasury bonds are not a secure investment. "There is no trust fund," said Mr. Bush, "just I.O.U.s that I saw first-hand."
4. Bush implied (or lied) that if you don't pay into the private accounts, that you will still have your full benefits... how will this work? Magic money tree w/money laundering elves?
5. Progressive Indexing will NOT help the middle class, because 70% of recipients (people making over $20,000) will have BENEFIT CUTS. Example: Someone making the average annual wage of $36,000 would receive a 20% benefit cut.
6. Soc Sec is INSURANCE for that rainy day when all of your other options/ choices fail or run out. We already have choices/ options... 401Ks, IRAs, stock market investing...you do not mess w/the only INSURANCE that can keep you from being homeless & eating cat food.