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Bush Moves to Privatize Social Security

While you got blood in your eyes and fear in your hearts youare being robbed.
As reported first in Drunk with Power,  http://portland.indymedia.org/en/2004/11/302862.shtml the mob is making a new market bubble for wall street. Just yesterday NPR sowed the seeds. Now AP is on the move.


 http://news.yahoo.com/news?tmpl=story&u=/ap/20041110/ap_on_go_pr_wh/second_term_social_security

Bush Moves to Privatize Social Security

1 hour, 8 minutes ago White House - AP


By LEIGH STROPE, Associated Press Writer

WASHINGTON - Fresh from re-election, President Bush (news - web sites) is dusting off an ambitious proposal to overhaul Social Security (news - web sites), a controversial idea that had been shelved because of politics and the administration's focus on tax cuts and terrorism.


AP Photo



Bush envisions a framework that would partially privatize Social Security with personal investment accounts similar to 401(k) plans.


A starting point is a plan proposed by a presidential commission in 2001 that would divert 2 percent of workers' payroll taxes into private accounts. The remaining 4.2 percent and the Social Security taxes employers pay would go into the system, helping fund benefits for current retirees. That leaves a shortfall of at least $2 trillion to continue funding benefits for those current retirees.
Ha! 10.Nov.2004 17:15

@

That'll make it easy for the Wall Street bankers to rob Americans of their savings. Again. Stupid Bush supporters.

in the end, a handout. 11.Nov.2004 15:31

this thing here

forget completely the term social security.

that 2% is a government handout of "public money for the public good", OUR money, to private interests.

when you strip away all the rhetoric and the terms, and simply look at the bare mechanism, that is all it is: a handout.