A Boston Tea Party …(You Can’t Handle The Truth)

Let the misinformation begin. The battleground for Social Security has been brought to the attention of the American public with the President’s state of the union speech. He spoke of the problems with the current system and his ideas on fixing those problems. Over the next few months we will hear plenty of misrepresentation about those problems. I want to clarify the truth and why many can’t handle the truth.

1. People in Congress are allowed to invest in thrift savings accounts. They have a wonderful health care system. For some reason they don’t want Americans to have the same as they do. When President Bush spoke about this in his speech only one side of the isle stood and clapped. Why don’t Democrats want you to have the same opportunity for savings as they have?

2. Many current retirees get much more money back from social security than they pay in. Why, because they are living longer and did not make much money during their lives. Even though they are getting more than they paid they want more. If any one in politics even brings up raising the retirement age or lowering their benefit they are certain to be voted out of office. Why shouldn’t the benefit increase with inflation rather than being indexed to a much higher level. Most workers in America get raises based on inflation but not selfish retirees. They want all they can get and if they don’t get it they will vote you out of office.


3. Social Security is the product of a Democratic President. They feel it is their issue. If a Republican President creates a more modern Social Security system he will be remembered for it. The Democrats then lose one of their major constituencies, senior citizens. They will have no one to scare at election time.

4. One of the major lies being told about reform is that a person could lose their investment just like Enron employees did. The investment opportunities will be very, very limited. Only a few secure bonds and stocks will be allowed. Your expected return would be around 4 – 6 percent rather than the much more speculative stocks that return 15 – 20 percent. Only a moron would believe that the government would allow you to hedge your senior years on risky stocks.

5. The President says that the system will go bankrupt in 2042. Democrats say it won’t. Well, who is telling the truth? In the year 2042 the Social Security fund will not be out of money. Retirees will still get payments. Their payments will be only 70 cents for every dollar of earned benefit. That is the definition of bankruptcy. People file for bankruptcy when they cannot pay their bills in full. Social Security will not be able to pay its bills in full.


6. The issue that sticks in my craw the most is that we have a chance to keep OUR OWN money. Why are so many people willing to blindly turn over their earnings to the federal government? You earned it, it should be yours. If we are allowed to keep our money for ourselves and earn a higher rate than we would normally, aren’t we better off? The cost of living will be ever higher as young people reach retirement. Having more money to pay for those years seems like a good idea. Not everyone has a 401k plan or pension plant at work. Politicians want you to give them YOUR money so they can continue to spend it. Every dollar kept out of the Social Security system is one dollar less for politicians to borrow against and spend.

7. Freedom of choice is what we deserve. If your weak and would rather have the federal government be your baby sitter than you will have the chance to stay in the current system. If you’re wise and want to empower yourself you will have the choice to create a personal (private) account. It doesn’t matter what you call it, personal or private, it is still yours. You own it and You keep it and You can give it to my family when You are gone.

Educate everyone one you meet on the details of what President Bush is trying to do. Always remember that a politician’s life is 2,4, or 6 years. They think only in those terms. They do what ever allows them to get re-elected. Democrats don’t want to give up their pet issue for the last 60 years because it will cost them future elections. They know senior citizens vote and if they can’t scare them on Social Security, they lose a major campaign issue. Clinton, Moynihan, and many committees have suggested parts or all of the same reforms President Bush is suggesting now. Could Democrats be rejecting them only because he is a Republican? If you don’t think so then “You can’t handle the truth”.