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> Solving retirement issues, Are we being stubborn?
A left Handed pe...
post Jun 19 2005, 01:31 PM
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The Problem:
The American dream of a secure retirement appears in jeopardy, and lawmakers are scrambling to find answers lest they be sent into early retirement themselves.

Three forces are merging to create anxiety: fears about private pensions sparked by a default at United Airlines; frustration over 401(k) accounts invested in a stagnant stock market; and President Bush's campaign to convince people that Social Security faces a crisis.

The Republican response:
The solution? People aren't buying Bush's proposal to partly privatize Social Security in the country or the Congress. But Congress is moving ahead on several fronts that could converge into a broad overhaul aimed at shoring up Social Security, pensions and personal savings.

"By putting them together, I believe it actually speeds up the process," Rep. Bill Thomas, R-Calif., chairman of the House Ways and Means Committee, said recently. "Instead of having three highly charged partisan fights, we'll only, unfortunately, have one," he added with a laugh.

An accomplished deal maker and chairman of the House committee whose approval is required for changes to retirement-related tax law, Thomas has yet to find the blend of proposals that will win majority support from Republicans, let alone from a bipartisan coalition.

Our response:
Democrats refused anew to talk until Bush drops his call for diverting Social Security taxes into privately managed accounts. And passing any form of private accounts with only Republican votes is a "heavy lift," McCrery said.


What do you think that Congress should do in order to make retirement money secure again?

If Republican congress is willing to negotiate a solution to the problem that excludes the creation of private investment accounts, then do you think that the Democrats should make it possible for a bi-partisan solution to be reached?

On the issue of social security, would you rather cut benefits, or would you rather increase taxes?
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post Jun 24 2005, 10:08 PM
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QUOTE(A left Handed person @ Jun 19 2005, 08:31 AM)
On the issue of social security, would you rather cut benefits, or would you rather increase taxes?

I think it's pretty clear that cutting benefits is a BAD idea -- W is learning that one the hard way, even HE isn't bullet proof on that issue. And raising taxes isn't going to be a very popular option, either, and certainly leaves a lot of room for the GOP to come at Dems swinging. Neither will go over with the party, the people, or anyone else.

I think the answer is a hybrid between these two options. Taxes need to be raised a little, although, I think I might prefer raising the income limit on contributions coupled with W's need-based benefit slowdown.
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