[lbo-talk] Is The Bush Admin Social Security Plan Doomed?

joanna 123hop at comcast.net
Sun May 1 11:54:37 PDT 2005


snitsnat wrote:


>
> Hmm. Well, it seems to me that, if the Dems are taking the position
> that eliminating SSI will hurt the poor most, then the Repubs have
> their backs against the wall. Here they are saying that they're
> offering a plan to help the poor the most. If they don't vote for it,
> they'll look like they don't care about the poor at all. In that case,
> they'd have no choice but to vote for it. Dunno.

The plan is screwy: the "poor" according to this plan make less than 16,000/year; by the time you're making 50,000, they're already taking half your benefits away...which weren't that big in the first place.

It could be they're totally clueless. The vast majority of people have two things for old age: SS and whatever equity they've built up in their homes. In my generation (born in 54), unless you're unionized or working for the govt, you don't have a pension of any kind. I certainly don't. The pensions are coming under increasing attack and are slowly being bankrupted if there are any left. That leaves the baby boomers pretty much walking on solid air.

I think one reason they're getting such solid pushback is that people do know this.

Joanna



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