They have just introduced legislation that would allow workers to partially opt out of the Social Security program immediately, and fully opt out after 15 years.
Rep.Pete Sessions (R-NY) who chairs the National Republican Congressional Committee, and other Republicans introduced the Savings Account for Every American (SAFE) Act. Under this underhanded bill, workers would immediately have 6.2 of their wages sent to a "SAFE" account each year.
That 6.2% would be 6.2% not put into the Social Security-effectively making it go broke even faster than Republicans "claim" it already is.
The other 6.2% that is sent to Social Security by employers, would continue to make this matching contribution to the existing plan but after 15 years, employers could also send that same amount to the employees SAFE account.
Rep.Sessions is ringing the alarmist bell when he claims Social Security is nearly broke. He claims the savings option is needed because last year Social Security actually paid out more than it brought in. In typical Republican fashion Sessions is using "The sky is falling" scare tactic to ram this legislation through which seems to be the only way Republicans can sell Americans their crazy ideas.
Keeping you safe ( ring a bell?) with a SAFE account.
" Our nation's Social Security Trust Fund is depleting at an alarming rate, and failure to implement immediate reforms endangers the ability of Americans to plan for their retirement with the options and certainty they deserve," Sessions says. " To simply maintain the status quo would weaken American competitiveness by adding more unsustainable debt and insolvent entitlements to our economy when we can least afford it."
Those fear mongering Republicans just can't wait to privatise your Social Security and line the pockets of all those Wall Street financial elites- these same gamblers who tanked our economy with their creative financial instruments, and whose only interest is to keep the money flowing in an ever upward stream, straight into the pockets of the top 2%.
What a scheme- what another Republican scam.
Of course, what this would really do is further drain money from Social Security right now, thus making sure the system fails for older workers who will still be in the system 15 years from now. It makes you wonder if older folks are going to be the guinea pigs in the Soylant Green experiment. You know as well as I know they will eventually figure out this scam won't work, but by then it would be too late for the last half of the baby boom generation, and sadly for the Republican sheeple who support this evil party- that would also include them.
People need to know. Especially all those who recently lost half their retirement savings in the financial meltdown of 2007
"USA TODAY reports that the government added $5.3 trillion to its financial obligations last year. This brings the total of unfunded obligations, the gap between spending commitments and revenue, to a record $61.6 trillion, or $534,000 per household!
Holy Jebus!
U.S. household wealth fell by about $16.4 trillion of net worth from its peak in spring 2007, about six months before the start of the recession, to when things hit bottom in the first quarter of 2009, according to figures from the Federal Reserve
While a rebound in the stock market, an improved savings rate and consumer steps to reduce debt resulted in net worth gains since 2009, only a little more than half of that lost wealth - $8.7 trillion -- is back on household balance sheets.
That leaves American household wealth $7.7 trillion less than it was before the recession.
As much as we hate to admit it, the fact is that We The People no longer matter. Our government is broken -- beyond all hope of repair, it would seem -- and the Republic is being slowly strangled to death by the corporatocracy with the consent (or perhaps even the complicity) of the Congress.
To all appearances, the members of Congress have forgotten that they're not supposed to be the bosses in this country and that they're supposed to serve the interests of a majority of the people rather than just the most influential...but it seems as if most of our Congress critters have decided that since ordinary Americans can't do anything for them (such as pouring significant sums of money into their campaign coffers or offering them sufficiently prestigious employment once they leave office), they don't have to do anything for us.
Is America beginning to feel like someone else's country?
Had enough yet?
Take action http://www.october2011.org/
This is still OUR America.
ickenittle
Holy Jebus!
U.S. household wealth fell by about $16.4 trillion of net worth from its peak in spring 2007, about six months before the start of the recession, to when things hit bottom in the first quarter of 2009, according to figures from the Federal Reserve
While a rebound in the stock market, an improved savings rate and consumer steps to reduce debt resulted in net worth gains since 2009, only a little more than half of that lost wealth - $8.7 trillion -- is back on household balance sheets.
That leaves American household wealth $7.7 trillion less than it was before the recession.
As much as we hate to admit it, the fact is that We The People no longer matter. Our government is broken -- beyond all hope of repair, it would seem -- and the Republic is being slowly strangled to death by the corporatocracy with the consent (or perhaps even the complicity) of the Congress.
To all appearances, the members of Congress have forgotten that they're not supposed to be the bosses in this country and that they're supposed to serve the interests of a majority of the people rather than just the most influential...but it seems as if most of our Congress critters have decided that since ordinary Americans can't do anything for them (such as pouring significant sums of money into their campaign coffers or offering them sufficiently prestigious employment once they leave office), they don't have to do anything for us.
 |
| We the Sheeple are being fleeced. |
Is America beginning to feel like someone else's country?
Had enough yet?
Take action http://www.october2011.org/
This is still OUR America.
ickenittle
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