Pledge to Protect Social Security

Dear Friend,

Senate Democrats are asking people to sign their Pledge to Protect Social Security. This simple pledge lays out the reasons why George Bush's privatization plan is not the answer:

• It would cut Social Security’s funding and weaken the program.

• It would cut benefits by one-third or more, even for those who choose not to risk their money in a privatized account.

• It would require even deeper benefit cuts for those who do choose a privatized account.

• It would require borrowing nearly $5 trillion, much of which from foreign countries like China and Japan.

Join me and sign our Social Security Pledge today. I did and you should too:

http://democrats.senate.gov/ss/pledge.html

security fund but limits the distribution of benefits to those who make less than $100,000 (arbitrary number) of retirement income.

1: The social security fund was set up to aide the retirement of the poor and low income. $100,000 is not low income ... their check would pay for the dock rent on their luxury boats in Florida.

2: The number of people receiving checks today with income as high as $200,000 would shock you. The savings would be in the millions if not multi-millions a year from being deducted from the fund. Those funds would continue to gain interest for the next year. There is an income cut off to receive all other assistance programs, why not Social security?

3: At present, social security is deducted from every dollar of workers payroll up to $90,000, then no more is deducted. Why not deduct SS out of every dollar that high income people make just like they do with those of us who make $90,000 and less. This would add more money into the fund to gain interest.

4: There is already a fund which people can opt to contribute $2000 a year into .... IRAs. We are just not forced to do so. The IRAs even have the option of a taxable version and a non-taxable version. Investment firm make a nice little sum off of IRAs and Bush wants them to make even more by forcing all of us to participate in private accounts.

Bush thinks we are all stupid and are not aware of these things. He thinks we will just go along out of fear of future poverty.