May 02, 2005

Bush's Social Security Reform...

Just burns me up.

Ok - I voted for Bush - not because I love Bush (though I don't think he's doing a bad job) but because Kerry was a horrible idea of a president in my mind.

I was reading a review of Bush's Social Security plan in the Washington Post to see if I heard it right the other night...
  • new proposal that would reduce benefits more as workers' incomes rise
  • benefits for low-income workers will grow faster than benefits for people who are better off
  • Benefits currently increase each year based on the annual growth of wages.
  • he also supports increasing the limit on income subject to the payroll tax that funds Social Security and raising the retirement age

    Now, I don't know what we COULD do to make the system better. But as I see it, I do not enjoy working so that OTHERS can enjoy a better retirement. As I work harder, and get promoted, and earn more money and put more money into the system, I expect to get that money returned to me, not to have my benefits cut. I do not agree with working to pay for OTHER people's retirement.

    I like getting my SS statement every year showing what my monthly payout will be (assuming there's any money there when I get to retire)...but to work harder and make more and see that number go DOWN? I certainly hope not.

    I don't disagree that there needs to be a minimum for people...if you worked, and simply made less, but DID work all those years, you should get some minimum amount of benefit. Definitely. But lowering my money? I don't think so.

    I also agree that today's seniors, who were told they could rely on SS, should not get their benefits cut either... at this point, it's too late and to cut their benefits would hurt them too much (though, please note that my grandfather, who is 83 still works 40 hours a week to make money).

    I don't know what the answer is, but I don't think taxing those of us who work hard for our money MORE and providing less benefit as we pay in more, is the answer.

    I already pay so much in taxes, it makes me sick. And we OWED a ton this year after all the payroll taxes we put in.
  • 1 comment:

    enjanerd said...

    Seems to me, at this point, doing nothing and letting everyone's benefits drop to 70% in 50-70 years would be better than what Bush is proposing right now. But that's only if you're talking about being fair...