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May 21, 2004

Kerry on Social Security

Jeff Lemieux of Centrists.org has a nice analysis of Kerry's latest comments about Social Security. Here's the summary:

Unfortunately, Kerry’s main idea to sustain the program -- faster economic growth -- and his fall-back idea, means-testing, fall well short of what should be expected. And Sen. Kerry's sidebar on Medicare solvency would be laughable if that program's cost problems weren't so serious.

Jeff believes we need to do something bold to reform the system. He points out that a recent partial privatization plan proposed by Reps. Kolbe and Stenholm deals responsibly with most of the issues involved in such a change.

Posted by William Swann at May 21, 2004 06:38 PM
Comments

Kerry's plans remind me of all the plans people propose to get us to energy independence. They sound nice until a knowledgeable economist puts the numbers into a spreadsheet and oops!

As for means testing, assuming one could take 5% per year from a retirement account thereby keeping the principal in place, one would need $600,000 to produce $ 30,000. Not many retirees will have that, I will not I am am confident that I will have more than most. As you also stated, there would be many legitimate ways around this law anyway. The net result would produce far fewer savings that Kerry suggests and more overheads on both sides to administer this phase of the plan.

This discussion of the SS fund running surpluses or deficits is in reality, fairly meaningless as all SS funds go to the general treasury fund and are used to fund current expenditures.

I note that the analyis in one of the links does show the estimated translational costs of all the proposals. Good as these are necessary to properly evaluate the various proposals.

Posted by: tallan at May 22, 2004 07:29 AM

Means-testing is uppermost for reasoned consideration. Half a million dollar houses and want us to pay for their Medicare,etc.? No way.

First and foremost is to get all off govt. benefits who haven't been citizens for 25 years or paid in for 20 years. More than time that their own families or sponsors start picking up the bankrupting huge bill for all over here. Another crucial step is to get all illegals and non-citizens off all govt. benefits and let's see the sum of money left. Get the blinders off.
Many of us do not want to pay for special interest groups crap and people brought over here from all over the world to take advantage of Americans.

It's all mental gas in the wind-- until you understand what is really going on and political bribery --until take the time and effort to change these factors in the continual looting of Americans.

Posted by: Alex at May 23, 2004 11:25 AM

AND Let's talk turkey about what I'm talking about to all uninformed or apathetic about changing things.

The special interests lobbies got you govt. politicos to let in all kinds of Refugees!
Costs are @ $10B a year. For ex.: 500,000 Soviet Jews as just one grouping. Slipped in my Jewish reprs. Most of whom came in here and are on your taxpaying SSI, nice new housing, and medical benefits. Same for those groupings that were allowed to come here from all over the damn world.

Lewiston, Maine, a nice small city of 35,000 was forced to take in a few thousand Somalis--who found out life was better in mostly all white Lewiston. They didn't like Atlanta where the blacks are,etc. and less welfare money to split there because so many on. Lewiston reacted. They said they'd get the federal govt. to go after them because they are equal to citizens for benefits if Lewiston if they didn't hand it all over. In fact, they are more equal. We have citizens without medical care or bankrupted for it and without nice housing (paid for), etc.
Your tax moneys are paying for all, of course. Oh,and there are other tribes allowed to come to other parts of this country and more coming.

Don't think we need different classifications and need to change laws so newcomers and non-citizens get the same benefits as longtime citizns?
Socialists picking your pockets.

Illegals obtaining govt. benefits alone cost us @ $10B a year!

Your univs are giving loans or grants to Non-citizens. Socialists picking your incomes and going on behind the scenes. Giving away your income taxes and your country.

More than time to make the sponsors or same groupings pay for.

Posted by: Alex at May 25, 2004 12:09 PM

Where do your numbers come from, Alex?

Posted by: bk at May 25, 2004 01:04 PM
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