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November 03rd, 2005Congress Should Know Wherever They Go, We Won't Be Far Behind.
November 03rd 11:58:56 PM
Posted by Chris Schrimpf| Comments (0)
S4's Erin Robert Delivers Holy Cross Vannecilli Lecture: "Playing Politics with the Policy Process: African-Americans and Social Security Reform"
November 03rd 11:48:51 PM
"Robert's talk will discuss both how African-Americans fare under the current Social Security system, and how reforming the system and creating Personal Retirement Accounts would benefit African-Americans.
'My thesis concluded that whatever proportional benefit African-Americans gain because of their low wages is outweighed by the costs associated with their comparatively low life expectancy,' she explained. 'Furthermore, I argued that Personal Retirement Accounts would afford African-Americans the ability to accumulate wealth as opposed to an income stream, which has many ancillary benefits; there are strong correlations between wealth and level of education, health, and even between asset holdings and incidence of mortality. Ultimately, African-Americans would benefit from the integration of Personal Retirement Accounts into the Social Security system not because it would necessarily increase their stream of benefits, but because they would be able to create wealth and the ability to pass an inheritance on to their children, slowly closing the wealth gap in this country.'"
Read more about it.
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McCain in 2000: Social Security Fundamentally Unfair to Young Workers
November 03rd 03:51:16 PM
"Many American workers in their 20's are being forced to pay into a system from which their expected returns will be negative. No fair retirement program can force workers to give a portion of their hard earned money to finance a system with low or negative returns for themselves."
Posted by Chris Schrimpf| Comments (0)
S4 Hosts U.S. Treasurer Anna Cabral and other influential women for panel discussion on Social Security
November 03rd 01:45:03 PM
SOUTH HADLEY, Mass.-- The Honorable Anna Escobedo Cabral, United States Treasurer, along with Lea Abdnor, past member of the President's Commission on Social Security, will join officials from the White House and student leaders at Mount Holyoke College as speakers for a women's panel on "How Social Security Reform Affects Women". The nonpartisan panel discussion will take place this Saturday, November 5th at 2pm in Hooker auditorium at Mount Holyoke College. It will focus on how Social Security reform and personal retirement accounts empower working women, women of color and college-aged women.
The panelists include the Honorable Anna Escobedo Cabral, Treasurer of the United States; Lea Abnor, past member of the President's Commission on Social Security; Ursula Williams from the White House Office of Public Liaison; Students for Saving Social Security's (S4) Press Secretary Erin Robert, a senior at the College of the Holy Cross; and S4 Education Deputy Director Natalie Vernon, a sophomore at Smith College. The panel's moderator is Mount Holyoke College junior Jo Jensen, S4's Chief of Staff and Co-Chair of the Massachusetts Alliance of College Republicans.
The women's panel is sponsored by Students for Saving Social Security (S4), a non-partisan student group on over 250 campuses across the nation, in conjunction with the Conservative Women's Caucus of the Massachusetts Alliance of College Republicans and the S4 chapters from Mount Holyoke College, Smith College and Wellesley College to educate college women on the importance and benefits of Social Security reform.
The event is free, open to the public and accessible to all. The nonpartisan women's panel on Social Security reform will begin at 2pm this Saturday, November 5th, in Hooker Auditorium at Mount Holyoke College.
Posted by Chris Schrimpf| Comments (0)
McCain Update...
November 03rd 12:47:41 AM
Looks like a little later in the campaign he did come out with a plan for personal accounts:
"January 13, 2000
On Tuesday, presidential candidate Sen. John McCain (R-AZ) released details on his tax plan. In it, McCain pledged to pass Social Security reform incorporating personal retirement accounts within his first year in office.
The base of the McCain Social Security plan is the so-called 'lock-box,' a pledge to dedicate all Social Security payroll tax surpluses to debt reduction (rather than spending them on general expenditures, which is the current practice). This would retire approximately $2 trillion in public debt over the next ten years. McCain goes beyond the lock-box by pledging to dedicate 62 percent of 'on-budget' (general revenue) surpluses to Social Security as well. This would entail retiring an additional $729 billion in public debt, which would be credited to the Trust Fund.
While McCain did not reveal full plans for personal retirement accounts, he reiterated his pledge to allow workers to invest at least 20 percent of their payroll taxes in the market:
'In order to save Social Security without breaking our promise to seniors or the backs of our children with higher payroll taxes, we must allow every working American to invest some of their Social Security payroll taxes, privately, in higher yielding accounts. The increased return on retirement savings would provide greater levels of retirement income for every worker and relieve the need for any further increases in the Social Security payroll tax while protecting all retirees.'"
More to come...
Posted by Chris Schrimpf| Comments (0)
November 02nd, 2005Where have you gone John McCain?
November 02nd 11:50:01 PM
I was browsing the Cato Institute's website looking at some of the history of the personal account movement, when I noticed this, John McCain in the 2000 primary supported at least some degree of personal accounts
"Like Forbes and Bush, John McCain also supports 'allowing workers to privately invest a portion of the dollars they would otherwise pay the government in payroll taxes.' However, like Bush, McCain has not developed a detailed proposal. In various informal remarks, he has suggested that there should be a national debate on the degree of privatization."
For someone who is considering another Presidential run, who's also a moderate, and would rely on sold support from young people to get elected, it would make sense for Mr. McCain to re-engage on this issue.
Posted by Chris Schrimpf| Comments (0)
Senators Santorum and Demint Address Social Security Reform Groups
November 02nd 05:31:39 PM
Washington, D.C.- Leaders of Students for Saving Social Security, (S4) www.secureourfuture.org, joined with the senior, business and other advocacy group members of the Coalition for the Modernization and Protection of America’s Social Security to listen to Senators Rick Santorum (R-PA) and Jim DeMint's (R-SC) plan to strengthen Social Security.
"Students across the country are grateful for Rick Santorum's and Jim DeMint's leadership on the issue of Social Security," said S4 founder and national director Jonathan Swanson. "Our generation has been waiting a long time for members of Congress to take the lead on reform."
"Congress knows the system is heading toward insolvency," Swanson said. "Every year reform is delayed costs each member of our generation another $2,000. After listening to the Senators speak we are confident that they are working hard to make the rest of the Senate take action on Social Security in this Congress."
"The generation that we represent knows that it is vital for Congress to re-engage the issue of Social Security," Chris Schrimpf, S4 Director of Media Affairs, added. "S4 is committed to ownership and choice, but we also recognize the need to protect current retirees. We're confident that Senators Santorum and Demint have a plan to safeguard our grandparents' retirements and our own."
"The time for political posturing is over," concluded Mr. Swanson. "It's time for Congress to stop playing roulette with our retirements. We're happy that Senators DeMint and Senator Santorum are pledging to tackle the problems of Social Security without employing scare tactics. Proponents of the status quo in Washington must know that their game is up."
Students for Saving Social Security, www.secureourfuture.org, is a grassroots organization of students on over 240 campuses across the country.
Posted by Chris Schrimpf| Comments (0)
More Reform on the Horizon?
November 02nd 12:30:08 AM
The Cato Institute reports:
"Sen. Chuck Hagel (R-NE) and Rep. John Tanner (D-TN) introduced complementary pieces of legislation in their respective chambers, proposing a Comprehensive Entitlement Reform Commission to find ways to scale back the projected growth of the entitlement triple-threat of Social Security, Medicare, and Medicaid.
In a floor statement, Hagel said, 'Social Security, Medicare and Medicaid have played a vital role for millions of Americans to cope with the financial burdens of retirement and health care costs. However, over the next 75 years these three programs represent a $42 trillion unfunded commitment and are on a trajectory that cannot be sustained. The Commission will review America's three major entitlement programs and make comprehensive recommendations to sustain the solvency and stability of these programs for future generations.'"
Remind anyone of the 7.65% solution?
Posted by Chris Schrimpf| Comments (0)
The Democratic and Republican Caucuses
November 02nd 12:22:57 AM
Posted by Chris Schrimpf| Comments (0)
Take your heads out of the sand
November 02nd 12:17:28 AM
S4 is continuing to work hard urge politicians from both parties to take their heads out of the sand. By ignoring the problem of the Social Security future deficit, they are only making it worse. Every year it costs us another $600 billion dollars. That's $2,000 each for you and me.
Posted by Chris Schrimpf| Comments (1)
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