General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJeb Bush: Next President Should Privatize Social Security
http://www.ibtimes.com/jeb-bush-next-president-should-privatize-social-security-1969720Bush has previously said he would support raising the retirement age to get Social Security benefits, a common position among Republicans. And he backed a partial privatization that House Republicans have proposed that would allow people to choose private accounts.
The future of Social Security has become one of the most hotly contested issues in national politics, and both parties have accused the other of threatening its survival. Republicans argue that Democrats' refusal to change the program will lead to its bankruptcy. Democrats say privatization would kill the program and leave elderly Americans at the mercy of the stock market. Plus, any discussion of changing the system often creates fear in older Americans beyond or nearing the age of retirement, who also tend to vote in the greatest numbers.
Republicans have split on the answer to fix the program, which could begin to pay out more than it takes in as more baby boomers retire and younger generations arent able to pay enough into the system to keep it going. Understanding the fear privatization proposals create, some Republicans have argued that the retirement age should be increased or means-testing established instead. Many Democrats advocate raising the ceiling for the tax that funds it.
Read my lips: No new Bushes!
randys1
(16,286 posts)cali
(114,904 posts)I don't trust her to not compromise with republicans, and that includes on social security.
Doctor_J
(36,392 posts)and her husband told Paul Ryan that he would help Ryan get Medicare cuts.
appalachiablue
(41,145 posts)am still not over that image in my mind. Thought it was about SS and the budget, maybe not. But whatever, it was 'illuminating'. If I start on Arne Duncan, charters and corporate neoliberals running education there'll be no end!
Response to Doctor_J (Reply #14)
NoJusticeNoPeace This message was self-deleted by its author.
hifiguy
(33,688 posts)during one of the Repuke-induced shutdowns. And he embraced the results of the Cat Food Commission.
JoePhilly
(27,787 posts)If she's running against Jeb ... then what?
daleanime
(17,796 posts)Jeb's only chance at the WH is running against Hillary. We would see record low voting totals. Just because I would hold my nose and vote doesn't mean every one else would.
Scuba
(53,475 posts)randys1
(16,286 posts)If it is true, then I will be thankful to you for the info.
Octafish
(55,745 posts)Peter G. Peterson, born June 5, 1926, is a controversial Wall Street billionaire who uses his wealth to underwrite numerous organizations and PR campaigns to generate public support for slashing Social Security, Medicare, and Medicaid, citing concerns over "unsustainable" federal budget deficits. In 2007, he made a fortune from the public offering of the private equity firm he co-founded, Blackstone Group, and pledged to spend $1 billion of this money to "fix America's key fiscal-sustainability problems." He endowed this money to the Peter G. Peterson Foundation, which he launched in 2008 (see below for more).[1] His son, Michael A. Peterson, is the President and Chief Operating Officer of the foundation.
Move over, George Soros and the Koch brothers. The Los Angeles Times has dubbed Peterson "the most influential billionaire business figure in national politics. . . . He isn't content merely to express concern about the federal deficit. His particular targets are Social Security, Medicare and Medicaid, which he calls 'entitlement' programs and which he wants to cut back in a manner that would strike deeply at the middle class."[2]
From 1963 to 1971, Peterson was the Chairman and CEO of Bell and Howell Corporation. He also worked briefly in the administration of President Richard M. Nixon as Assistant to the President for International Economic Affairs (1971) and as Secretary of Commerce (1972). He also served as a chairman of Nixon's National Commission on Productivity and as the U.S. chairman of the "U.S.-Soviet Commercial Commission."[3]
Peterson was later the Chairman and CEO of the now bankrupt Lehman Brothers (1973-1977) and its successor firm, Lehman Brothers, Kuhn, Loeb (1977-1984). He is also the former Chairman and co-founder of the private equity firm, Blackstone Group, and former chairman of the Federal Reserve Bank of New York. He was also Chairman for the Council on Foreign Relations (CFR), the founding Chairman of the Institute for International Economics (IIE), and the co-founder of the Concord Coalition.[4]
CONTINUED...
http://www.sourcewatch.org/index.php/Peter_Peterson
THAT Pete Peterson?
Scuba
(53,475 posts)Romeo.lima333
(1,127 posts)hobbit709
(41,694 posts)Wellstone ruled
(34,661 posts)voting block. Thank you and say good night to John Ellis Bush.
Betty Karlson
(7,231 posts)PowerToThePeople
(9,610 posts)That will not get you any votes.
City Lights
(25,171 posts)They suck.
Nay
(12,051 posts)appalachiablue
(41,145 posts)hifiguy
(33,688 posts)All of the shrubs seem to be criminal idiots.
dixiegrrrrl
(60,010 posts)And I hope most people understand by now what happens when huge money programs are privatized.
cali
(114,904 posts)A HERETIC I AM
(24,370 posts)Hekate
(90,714 posts)hifiguy
(33,688 posts)Just keep digging.
Just what the country needs - another idiot son of the asshole.
Doctor_J
(36,392 posts)KamaAina
(78,249 posts)She might waffle on stuff like raising the age, though.
Doctor_J
(36,392 posts)JoePhilly
(27,787 posts)Doctor_J
(36,392 posts)zappaman
(20,606 posts)Another reason to make sure a Democrat takes the White House!
lancer78
(1,495 posts)Privatizing Social Security would be no different then letting Granny take her money down to the nearest Casino. The stock market is the worlds biggest casino.
KamaAina
(78,249 posts)lancer78
(1,495 posts)I got to meet poppy bush during high school and escorted Barbara during a parade. Poppy Bush might have been a cutthroat, but the man does have some intelligence.
Interesting fact, Barbara Bush is a direct descendant of the only American president not to win his own party's nomination for a second term because he was hated so much. W is definitely his mothers' son.
KamaAina
(78,249 posts)appalachiablue
(41,145 posts)LondonReign2
(5,213 posts)Well no, not really. Unless you know of a casino that actually pays you out, on average, around 8% per year.
lancer78
(1,495 posts)Tell that to people in early 2009. The stock market is a casino where luck determines if you make money or not.
LondonReign2
(5,213 posts)Using 1/1/2007 as the basis, you'd be up 45% as of today.
If you sell at the bottom you're doing it wrong.
ladjf
(17,320 posts)gratuitous
(82,849 posts)After all, it's not like you personally are going to be surviving on those benefits, and your vulture capitalist pals need another piggy bank to raid now that they've run through all the funds set aside for working people's pensions. There's just not that many piles of money to plunder anymore, but social security remains the holy grail for venture capitalists and speculators to get their greedy mitts on.
Let's see if the American voters are as stupid as the Republicans think they are.
secondvariety
(1,245 posts)bring back the poor houses. Pensions about gone, 401ks are like a Vegas crap shoot, SS under assault and pillaged. I'll be all right (Union pension), but I worry about my kids.
pansypoo53219
(20,981 posts)pecause 401 fucking k's are better than pensions. NO MORE TINKLE!
OH OH! wall street will LOVE TO SKIM MORE MONEY OFF THE TOP!!!!!!
raccoon
(31,111 posts)kentuck
(111,103 posts)lostnfound
(16,183 posts)Those are ways to increase the revenues into social security fund.