
03-14-2010
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Wandering Aimlessly
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Join Date: Nov 2002
Location: Cruising
Posts: 13,480
Rep Power: 12
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Direct from the 2004 GOP platform:
Quote:
Strengthening Social Security with Ownership
Social Security needs to be strengthened and enhanced for our children and grandchildren. Republicans remain committed to the principles the President outlined: - Anyone now receiving Social Security, or close to being eligible for it, is guaranteed that their benefits will not be cut and their taxes will not be raised. Social Security is a promise made by this country to its citizens and Republicans will keep that promise.
- Key changes to Social Security should merit bipartisan agreement so all improvements are a win for the American people rather than a political victory for any one party.
- Personal retirement accounts must be the cornerstone of strengthening and enhancing Social Security. Each of today's workers should be free to direct a portion of their payroll taxes to personal investments for their retirement. It is crucial that individuals be offered a variety of investment alternatives and that detailed information be provided to each participant to help them judge the risks and benefits of each plan. Today's financial markets offer a variety of investment options, including some that guarantee a rate of return higher than the current Social Security system with no risk to the investor.
- Young people deserve to know their Social Security will in fact be there when they retire, just as we have guaranteed it to their grandparents and parents today. This new generation of American workers deserves to have ownership of their future. They must have choices.
- Assets in personal accounts should belong to each individual. Every American should have the opportunity to build a nest egg for the future and pass along that money to their children or grandchildren, who could use the funds to pay for college, buy a home, start a small business, or begin saving for their own retirement.
- Choice is the key. Any new options for retirement security should be voluntary, so workers can choose to remain in the current system or opt for something different.
This is a challenge that demands leadership. President Bush has shown this leadership by proposing a bold alternative to the collapse of Social Security. Along with Americans everywhere, we pledge to join him in this endeavor of a lifetime.
Individual ownership of voluntary personal retirement accounts for today's workers will make Social Security more equitable, but, just as importantly, will put the system on sure financial footing. Fifty years ago there were 16 workers to support every one beneficiary of Social Security. Today there are just 3.3 workers for each beneficiary. By the time young men and women who are entering the workforce today turn 65, there will be only two workers for each beneficiary. Doing nothing is not an option. We must keep faith with both the past and the future by strengthening and enhancing Social Security. We believe that everyone who participates in the Social Security program should use legal and accurate identification.
President Bush formed a bipartisan commission that recommended three models for reform and many Republicans in Congress have exhibited leadership in sponsoring six different bills. Non-partisan analysis of these proposals shows that each strengthens Social Security and that each shares a common characteristic: giving workers the option of supplementing Social Security with personal retirement accounts that they own
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__________________
John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
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