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August 19th, 2005Bush Will Push Hard for Reform in the Fall; Reform Gaining Ground Among Youth and Hispanics
August 19th 02:41:50 PM
From Today's Congress Daily PM Keith Koffler writes:
"President Bush next month will resume the aggressive
campaign for Social Security overhaul he waged during the spring,
according to the White House and other sources familiar with the effort...
"Every indication is that the administration is interested
in making a serious push this fall and not just pursuing an exit," added Lorenzen, who talks regularly to White House officials...
The push will begin the latter part of September when the White House expects Congress to revive its own aborted effort to pass Social Security legislation... read on for more
The White House push is timed to occur after Congress dispenses with other matters, such as Senate consideration of Supreme Court nominee John Roberts. While specific events are still being developed, Bush "will go back to doing high-profile, Social Security dedicated events," said White House Deputy Press Secretary Trent Duffy. Several Cabinet members, including Treasury Secretary Snow, Commerce Secretary Gutierrez and Labor Secretary Chao, will be heavily involved.
The president also will step up meetings with lawmakers on the subject, seeking sessions with Democrats as well as Republicans. White House officials say Republicans need prodding, and the president's campaign is designed to keep them focused on passing legislation. Sources said Bush and his aides remain committed to his own robust proposal for payroll-tax-funded private accounts -- despite efforts by some GOP leaders to scale them back -- as well as to his plan to "progressively index" future benefits to inflation instead of wages. One source familiar with White House thinking noted that the effort is expected to pay some political benefits as well. This source said Bush's Social Security campaign is scoring gains for Republicans among young voters and Hispanics."
Posted by Chris Schrimpf| Comments (1)
Social Security Reform Empowers Women
August 19th 11:47:37 AM
Carrie Lukas's testimony before Congress:
"Today, women take on many roles. We are homemakers; we are workers; we are the caretakers of elderly family members; we are spouses; we are single earners; and sadly, we are also widows. Women will take on many of these roles during their lives, and often must make difficult choices about what's best for themselves and their families. It is an important principle in public policy that individuals should be free to make these personal decisions without government interference. Unfortunately, under the current system, Social Security penalizes some women for their choices while rewarding others. When considering reforms to Social Security, it should be a goal to treat all women equally."
"Under the current system, women either receive benefits based on their own work history or as a result of their husbands' work history. A woman who never joins the formal workforce and pays no Social Security taxes will receive benefits worth 50 percent of her husban''s monthly benefit at retirement. A married woman who works will receive the higher of either half of her husband's benefits or a payment based on her own work history. That means that many married women who join the workforce receive no additional benefit for the taxes they pay into the system.
This is unfair to working women and distorts the decision of whether to enter the workforce in the first place. A married woman already faces high marginal tax rates because her income is combined with her husband's for tax purposes. If she expects to receive no additional retirement benefits from the taxes deducted from her paycheck, then she may be further discouraged from taking a job.
Social Security also includes some very serious drawbacks for the stay-at-home mom. Consider the situation of a stay-at-home mom who ends up divorced. This woman agreed to forgo earning her own income in order to raise children while her husband worked. But if she gets divorced after having been married for less than 10 years, that woman has no right to any portion of the retirement benefits that her husband accrued while they were married. This means that many divorced women are forced to start from square one when saving for retirement.
Many single women also face problems under Social Security. Consider a 60-year old single-mom who has been working all of her life to raise her children. In addition to struggling to provide for her family's needs, she has been paying taxes to Social Security. If she dies at age 60 and her children are over age eighteen, according to Social Security's rules, her family will receive a paltry $255 death benefit. Her years of work and thousands dollars in taxes paid will have been for nothing. This example is not an aberration: U.S. Census Bureau data shows that, each year, tens of thousands of single women between the ages of 24 and 64 die.
All of these inequities are the result of Social Security's lack of ownership. None of the money paid into the system by these women and their family members is saved for their retirement. This needs to be changed."
The whole testimony is here.
Posted by Chris Schrimpf| Comments (0)
Social Security Does Not Live Up to Liberal Ideals
August 19th 11:08:06 AM
"Opponents of President Bush's Social Security reform proposal claim that it violates the inherent values of the program, such as equality and social cohesion; but a frank look at the Social Security status quo reveals that the program is very poorly designed to realize liberal ideals..."
Posted by Chris Schrimpf| Comments (1)
Congratulations
August 19th 10:58:58 AM
Some S4 members have gotten pro-reform pieces published recently. Erin Robert made an excellent appearance on the Bruce Elliot show yesterday. Two of our members, Harry Moroz , and Josh Harlow had op-eds run by American Daily. And Vincent Thoms had a letter to the editor published in the Fairfax Connection.
Posted by Chris Schrimpf| Comments (0)
August 18th, 2005The Crisis Is Now
August 18th 04:49:37 PM
The time for reform is now. The entitlement programs in the United States already account for over 8 percent of GDP by 2015 entitlements will account for more than ten percent of GDP. For more on why the crisis is now read this.
Posted by Chris Schrimpf| Comments (0)
August 17th, 2005Erin Robert on the Bruce Elliott Show
August 17th 06:40:51 PM
Our Deputy Press Secretary, Erin Robert, will be on The Bruce Elliott Show Thursday at 4:15pm. Erin will be talking about S4's efforts and Social Security reform in general.
You can listen online here.
Posted by Jeremy Tunnell| Comments (2)
Some Unhappy AARP Members
August 17th 05:43:45 PM
Many AARP members must not approve the organization's handling of Social Security reform. Just look here and here.
Posted by Chris Schrimpf| Comments (1)
What if...
August 17th 02:47:33 PM
What if Social Security was just being invented now. How would we establish the program?
"In the movie It's a Wonderful Life, an angel shows a frustrated George Bailey how life would have been different if he had never lived. A similar thought experiment using the dysfunctional current Social Security system might be useful. How would life be different if we didn't have Social Security and it was newly proposed today in all of its glory?"
For the answer read on.
Posted by Chris Schrimpf| Comments (0)
AARP: Investing in the Stock Market is good.
August 17th 01:01:24 PM
AARP has its own investment page where members can invest their hard-earned dollars in the free market. Investing through the AARP will "increase the likelihood of achieving your dream retirement."
Dr. Stuart Butler has more on the issue.
Posted by Chris Schrimpf| Comments (0)
Thanks Grandpa
August 17th 09:58:36 AM
AARP isn't the only group out there representing the views of older Americans. For Our Grandchildren and 60+ Association are grassroots groups whose members are passionate about saving social security for future generations through Personal Accounts.
For Our Grandchildren also points out the importance of non-partisanship, something AARP could learn.
Posted by Chris Schrimpf| Comments (1)
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