Social Security benefits may change

[liberal N proud]

White House may tie increases to inflation, not wages, which could lower payouts; ad blitz to begin.
January 4, 2005: 9:44 AM EST



WASHINGTON (CNN) - As part of its effort to reform Social Security, the White House is seriously considering changing the way benefits are calculated, a shift that could mean lower benefits for future retirees.

Administration officials insist, however, the president has not made a final decision to embrace the approach, and the first White House priority is a massive public relations campaign this month to raise awareness of the system's problems.

As reported Tuesday in the Washington Post, the reform idea would be to use inflation rates instead of workers' wages to calculate Social Security benefits.

The approach, known as "price indexing," was advocated by the president's Social Security Commission in 2001, a panel Mr. Bush has cited for having recommendations he generally supports.


http://money.cnn.com/2005/01/04/news/economy/social_security/index.htm?cnn=yes

Title should have been Social Security Benifits WILL Change

[rodeodance]

1. "will" change--NOT 'may' change. This I feel in my gut!!

[chicagojoe]

2. I love how the insurgent Radical Right announces its plans.

They tell us the plan, then, knowing Americans won't like it, pretend that they're ONLY CONSIDERING these plans.
What a bunch of Limbaugh.

[IStriker]

3. If this is all they do, they may as well not bother...

This will not be enough to kick the can down the road much.

[pinerow]

4. I see it as a losing proposition for the Republicans...

and for all the Progressive activists...this is a rallying point!!!!

[bobweaver]

5. This really makes me mad!

I am particularly resentful about this because I am self-employed and I pay the self-employment tax, which is usually equal to, or sometimes more than, my income tax payment. I pay it out of my pocket and I expect my benefits to be there for me when I retire.

I am angry that Bush is now trying to reduce the expected benefit payments. I feel that Bush and the Republicans are basically skimming from my retirement money. They have absolutely nothing to do with my business, yet they are digging into my pension. I'm being "Enroned!" And I can't opt out of it - the IRS requires me to pay the self-employment tax.

[Moderator]

6. duplicate topic, please discuss here

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1119365