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George W. Bush - Christian in Chief - The Legacy of an American Failure

BUSH'S WAR ON SOCIAL SECURITY - God Helps Those Who Help Themselves To The United States Treasury

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Senators To Destroy Social Security

Of course, reason (read election year) has prevailed for the moment and there will be no dismantling of Social Security until after the election. The day after the 2006 election, Georgie will revive his dream to dismantle (privatize) Social Security.
 
W's plan to destroy Social Security was so unpopular that even his massive propaganda campaign to convince America that Social Security would self-destruct failed (NYT,12/22/04).  Of course, the Bush/Rove lies about Social Security were a little harder "sell" than the phony "Weapons of Mass Destruction" ruse.   
 
Unlike Iraq, the President's sociopathic tendencies were exposed on Social Security because publically available documents contradicted everything he said. In fact, the Social Security Trust Fund is currently solvent through 2052.
 
Wealthy Corporatist like W and his forebears (Prescott Bush) have hated Social Security since its inception. These folks much rather see 75 year-olds cleaning bathrooms or flipping burgers instead of slowing down a round of golf or complaining about Karl Rove's cigar smoke in the clubhouse.  
 
W's maniacal plan was actually dreamt up by his wealthy investment backers on Wall Street.  These folks were drooling over the thought of getting their hands on the Social Security Trust Fund as investment capital.  With dollar signs in their eyes, they were willing to sell their own mothers out just to make a few hundred billion dollars.
 
Wealthy Wall Street Investor and now Bush's Secretary of the Treasury Snow has publically denied that Wall Street would benefit from Bush's plan.  Most sources disagree and note that under the Republican plan that: 
  • "Social Security beneficiaries would see a 45 percent cut in their benefits, while the financial-services industry would reap billions of dollars in fees." [CBS MarketWatch, 1/12/04]
  • "Profits could add up to over $1 trillion in the next 75 years, which helps explain why many investment bankers are so keen on the idea." [Reuters, 1/11/04]
  • "[Social Security Privatization] would increase flows into equities and bonds, thereby increasing prices and brokerage firms' trading profits, says a report released by Merrill Lynch & Co." [Globe and Mail, 1/13/04]
Social Security can easily be fixed.  All that is necessary is to require people who earn more than $90,000 a year to pay their fair share.  In case you didn't know, there are no Social Security paycheck deductions once you earn $90,000 in a year.  In other words, republican fat cats like Senators Frist, Allen and McCain do not contribute to Social Security after the first six weeks of the year while average Americans have to contribute every two weeks all year.   
 
Republicans are basically trying to screw your parents, grandparents, the disabled and eventually you! The Republican Social Security scheme is on hold until after the 2006 elections.  And when Democrats attack the Republican dogs like Allen and Santorum that tried to destroy social security, the Republican's will deny it. 
 
George Allen of Virginia and Rick Santorum of Pennsylvania both support Bush on Social Security and are facing re-election.  
 

Is Your Republican Senator Up For Re-election in 2006?