The Rip-Off Known As Social Security Past & Present: A Ball and Chain on poor and middle class people Future: Economic Disaster (unless we reform it TODAY)

In 2005, there is NO Social Security, so President Bush proposes the following “solution” Create a retirement “insurance” program called FICA, which is an acronym for Federal Insurance Contributions Act Worker’s have 6.2% of their salary confiscated from their paychecks and employers match the 6.2%. There is NO CHOICE if a citizen would rather fund their own retirement with their own investment, like a 401K or Roth IRA or both. EVERY worker MUST pay into the scam. These funds are put into a general fund, NOT a personal retirement fund for the worker.

In 2005, there is NO Social Security, so President Bush proposes the following “solution” The funds, instead of being invested, are used to pay “benefits” for aging Baby Boomers, who are known for have lived a hedonistic, self-indulgent lifestyle, especially in their youth. Hence they have little or no savings, thereby many of the “Boomers” have come to rely on the scam known as Social Security as their ONLY source of income in retirement. This is a terrible situation, of course, but maybe they should have planned better? I hope I can HELP YOU plan better for you and your children by giving you this information. The FICA tax fund is not a concrete, personal asset, but is instead a blank check left wide-open for politicians to raid for their own projects and programs.

In 2005, there is NO Social Security, so President Bush proposes the following “solution” The funds are not INVESTED, so the money gains no interest, thereby easily overcome by inflation. Every YEAR, the workers’ money LOSES real value, as inflation makes the cost of living more expensive, the FICA money earns a paltry “return” of 1.5% (if it was an actual investment). The age to collect (the “retirement age”) is 67, BUT the average age for men to live is about 71 (whites, 72, non-white, 67). Women live an average of 78 years (whites, 79, non-white, 75). If the contributor dies, the heirs cannot collect the money (This was supposed to be an “insurance” program…) Would YOU want this “solution”?? This is what FDR implemented in 1935, and that Democrats today want to keep status quo or propose negative solutions to “keep it solvent”.

The National Debt is small compared to the size of the total United States Economy

Demographics In 2005, 3.3 workers pay FICA taxes for ONE beneficiary…WHY IS THIS??? In the post-World War II years between , there were 76 million children born. These are known as the “Baby Boomers”. In the early 1960’s, the “pill” became available to women. In the 1960’s, the social stigma and the diluting of the power of religious barriers (especially in the Catholic Church) towards contraception allowed people to postpone, reduce, or eliminate children. The 50,000,000 (million) abortions performed in the United States since 1973 have removed a whole generation of workers that would be 32 years old and younger this year (2005). These items have contributed to the cause of the dramatic shortage of workers that would pay into the scam known as Social Security…

When is $21,000 MORE than $102,000? These Democrats don’t want you to know! They can smile because THEY are very WEALTHY! They have a more lucrative retirement plan than Social Security called the Thrift Savings Plan (TSP). They are also heavily invested in stocks and mutual funds. Do I see some hypocrisy here?? Kennedy Rangel Schumer Reid

Democrat’s “Solutions” Raise the “retirement age” (!) higher than the current 67 years of age. Raise the cap on FICA taxes above the current cutoff of a salary of $90,000. (Workers pay FICA up to $90,000). This is basically a TAX INCREASE on successful people who already will probably never see their own Social Security “benefits” that they paid into. Increase the FICA tax (9% for workers and employers has been mentioned). This will strangle economic growth and not resolve the problems of personal ownership, a decent inflation-beating return, CHOICE, or actually resolving the “solvency” issue, because FICA taxes have been raised many times in the past.

Personal Accounts vs. Current Social Security Personal Account example: Starting with $0 and depositing $300 monthly over 37 years (at a rate of return 7.0% compounded monthly), you will save $595,507. Initial balance:$0 Total deposits:$133,200 Total interest earned:$462,307 Total taxes paid:$0 Total Saved: $595,507 (Multiply by 2 = $1,191,014 to include Employer’s match) Ability to PASS MONEY TO HEIRS Current Social Security example: Starting with $0 and depositing $300 monthly over 37 years (at a rate of return 1.5% compounded monthly), you will save $177,556. Initial balance:$0 Total deposits:$133,200 Total interest earned: $44,356 Total taxes paid:$0 Total Saved: $177,556 Multiply by 2 = $355,112 to include Employer’s match BUT the government STIPULATES a MONTHLY “benefit” that one can BEGIN collecting one’s OWN MONEY at age 67(!) This monthly “benefit” is found on your annual Social Security statement

Questions??