Cheney Defends Soc. Security Account Plan

http://story.news.yahoo.com/news?tmpl=story&cid=536&ncid=536&e=2&u=/ap/20050113/ap_on_go_pr_wh/cheney_social_security_2

Vice President Dick Cheney took on critics of the administration's Social Security overhaul plans Thursday, arguing that channeling part of workers' salaries into the stock market would help pull poor Americans up the financial ladder.

Establishing personal accounts as a part of the Social Security system "would continue a great American tradition of upward mobility and individual independence," Cheney said in his first policy speech on revamping the system.

"Many low-income workers who have nothing to spare after taxes would have a chance to begin saving for their later years," he said at The Catholic University of America.

-snip-

Without offering any such specifics, Cheney said, "Personal accounts hold the promise of turning every American worker into an owner, giving them a retirement fund they control themselves and can call their own."

-snip-

"The system is on a course to eventual bankruptcy," Cheney said.

in Iraq, too.

:boring: :mad: :wtf:

x(

So typical. :eyes: I guess the "news" is that Cheney has been spotted outside of his "undisclosed location". Personally, I wish he would just stay there.

"I only have a tiny bit of money to put aside for my retirement. Should I invest it in the stock market?" Be prepared to wait for him to finish laughing before he can give you an actual verbal answer.

Nice picture eh? :evilgrin:

no need to screw with Social Security unless Bush wants to destroy it-

but I think destruction of SS is the Bush goal.

to have * and ? looking out for the little guy...

What would we do without them looking out for our future?

If it weren't for them, somebody might come along and skew things in favor of the richest 1% of Americans.

Whew! What a relief!

American worker into a beggar. Don't leave that part out, Crash.
We've become pretty fed up with the promises.
You promised millions of new jobs...you promised tax cuts would make the economy take off...you promised Saddam had nukes.
You know what, dick? You're as full of shit as a Christmas goose.

So saith his cardiologist. :D

Does not compute! Does not compute!

why not just let people keep the money? What if you have no expectation whatsoever of living into your 60s? What if everyone in your family died of heart disease in their 40s? Shouldn't you have the right -- under an "ownership society" -- to spend your money on booze and sex or any other use you see fit? What business is it of the government's to force us to save?

SS is an insurance policy for society, that we may take care of the elderly, the disabled, the children of the dead and their surviving spouse. To change the equation, to make it something the individual does for himself, changes all . . . and society's stake in it is diminished (until, of course, such time as the unlucky and the incompetent find that their investment decisions are inadequate for their 'golden years' and they turn to society for help).

So if it isn't an insurance policy for all of us, what right does the government have to dictate how the money must be used? What makes the stock market any more of a 'sure thing' than your cousin Jake's pick six at the track? If I want to invest my cash in Enron (whom I believe is still active on the market) or sink it into my neighbor's fledgling frozen yogurt shoppe, what business is it of the government's?

Let's take this argument to the extremes of absurdity. . . it's precisely what BushCo is doing today.

Thanks.

You have a good head on your shoulders.

Must not be in politics, eh?

:)

Has he ever thought that a huge portion of the population lives from paycheck to paycheck? How can ANY of those people save for private accounts?????

And all of us already paid into what is still the former SS system which means that the money each of us already has in there IS ALREADY our so called "private accounts"!!!!!!

And the SS system will probably eventually go bankrupt because THIS ADMINISTRATION IS STEALING FROM IT!!!!:mad:

Another lying play on words by the GOP.

THIEVES!!!!!:argh:

and I'd bet my last dollar he never worked some crap minimum wage job with no benefits either.

These people and heartless and cruel IMO!

:kick:

It's a neo-con disease with no cure (aside from removal of power)

Now it is lining the pockets of Wall Street and gambling on a return. Notice how all the people in love with the Bush Elimination Plan are very wealthy.

Whatever, liar.

of SS even be stopped, or is it what bush* wants bush* gets?

cheney sells those poor Americans on ebay.

>>Establishing personal accounts as a part of the Social Security system "would continue a great American tradition of upward mobility and individual independence," <<

For US.

We don't give a tinker's damn for you peasants.