23 June 2010

The Lies About Social Security & How To Answer Them

You've Surely Heard These Lies -  Fight Back With The Truth!
"Social Security is burying our children in mountains of debt!"

* Social Security has not added a single cent to the federal budget deficit.  The federal government doesn't fund Social Security -- American workers do.  Think about it.  Social Security is funded directly by payroll contributions divided equally between workers and their employers.  As such it has its own dedicated sources of revenue and it is fully financed  for years to come.  Today's youths are falling behind their parent's generation due to a decline in quality American jobs and a failure to adopt policies that help young families balance their roles as workers and parents.

"Social Security is a burden to our youth!"

* While the highly privileged and wealthy may be fortunate enough to already be setting reserves aside for their retirement, the fact remains that the vast majority of today's youth and their families are struggling as a result of high unemployment, stagnant wages and a shift from traditional pensions to 401K plans. These are the hard-working people who will likely need strong retirement, disability and survivor protections they grow and raise families of their own.  Moreover, younger workers already have been handed a higher normal retirement age of 67.  We ought to be talking more about preserving and strengthening the program for young and old alike, instead of pushing for cuts to the benefits of future generations.

"The baby boomers are going to bankrupt the program!"

* Social Security has run a surplus since the early 1980s in anticipation of the Baby Boomer retirement.  Thus, the savings in the trust fund are already there to met this increased demand.

"The Fiscal Commission says that everything is on the table for consideration, including Social Security.!"

* So far, not everything has been on the Commission's table of consideration.  In fact, many potential sources of revenue have been conveniently absent from the discussion:  Where is the discussion about reducing the deficit by levying a financial transaction tax against Wall Street?  Likewise, where is the discussion about closing tax loopholes and other tax advantages for wealthy corporations and individuals?

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