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December 17, 2004here's where to hit
don't get me wrong
there's a screw job
inside this wooden horse
the private retirement account gig
is meant to keep
you
jobbled
till yer worthless
but lets get to the rip
here
not church supper
around
about the great rate race
stocks v treasuries
look we're behind here
the elephants
calling thiz
"your own "
gives the bushwah
pitch a huge head start
to beat em one has to
outdue em
offer em more
like the swedes do
=============================
here's a partial pass
at the rip
behind the shell game :
--------------------------------------------
todays newz
by a dazed reporter
"President Bush
points
to a plan developed
by his Social Security Commission
as a "good blueprint"
for Congress to follow.
Under this plan,
Social Security benefits
are cut
for all future retirees
whether they participated
in private accounts or not.
---------- ie no choice
to stick with what they now got -----------
The cuts would grow deeper
over time
---------- now theres the lead line -----------
The Congressional Budget Office
(CBO)
recently concluded
that the Commission's plan
would mean
"lower total retirement income"
for future retirees
----okay
the plan's
individual accounts
combined
with reduced Social Security benefits
would pay less
then the present system
but would it cost less
in future pay roll taxes too?
ie "reduced forced savings" ------
For those born
in the 1970s
with earnings in the middle
of the income distribution
---------- notice the choice here
those in the middle
who neither pay into the redistibution
nor recieve any boost out of it -------
CBO projects that
the combination
of the private account
and reduced Social Security benefits
would equal just 77 percent
of current Social Security benefits.
-here's the bell ringer -----------
For children born
in this decade,
the combination would provide
just a little more than
half of benefits."
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Posted by herb jr. jr. at December 17, 2004 08:32 AM
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