Tuesday, September 23, 2003
Cutting through the crap on Social Security
Leigh Strope of AP writes:
So all we have to do is leave taxes at the Clinton level, and my Mom's Social Security is safe? Sounds like a bargain to me, especially considering what the economy was like back then.
Of course, I understand some folks on Wall Street are hurting, and naturally the Republicans want to get them some commissions, but does it have to be with my Mom's retirement money?
[Democractic Sentator Jon Corzine of New Jersey,] former chairman of Wall Street investment bankers Goldman Sachs & Co., reminded Republicans of his 30 years experience with financial markets and said personal accounts invested in the stock market were "an uncertainty and a risk." It would be a mistake for millions of Americans to rely on stock market income for their retirement, he said.
In the current system, "security is guaranteed. Dignity is guaranteed," Corzine said, noting that Bush's tax cuts amount to $12 trillion over 75 years, more than enough to restore solvency.
So all we have to do is leave taxes at the Clinton level, and my Mom's Social Security is safe? Sounds like a bargain to me, especially considering what the economy was like back then.
Of course, I understand some folks on Wall Street are hurting, and naturally the Republicans want to get them some commissions, but does it have to be with my Mom's retirement money?
