Turning over our retirement dollars to the banks is absolutely stupid! But I’d expect that of a politician.
By Jack E. Lohman
- What is it about “corrupt bankers” or failed banks does Rep. Paul Ryan not understand?
- Where would we be today if George Bush had succeeded in privatizing Social Security prior to the crash?
- This seems all a game to avoid paying out SSI and Medicare funds, so they are more available for special-interest spending?
Does draining off 20% for bank overhead, salaries and bonuses make Social Security stronger?
Making the bankers richer is a given. We already pad privatized health care and the only people that benefit are the insurance executives. Will not the same occur with privatized Social Security?
There can be no doubt where the political campaigns are getting their money… from the banks and finance cartels. But must we rip off the elderly in the process?
Instead of privatizing Social Security and giving it to the banks, we should be nationalizing the weak banks instead. Rather than bailing them out, we taxpayers ought to buy them. “Public Option Banks” like North Dakota’s state-run bank will keep the others in line. Who can argue when that state’s unemployment rate is 3.3%?
How about these tax changes…
… from the independent Center on Budget and Policy Priorities:
The Ryan Budget’s Radical Priorities
Provides Largest Tax Cuts in History for Wealthy, Raises Middle Class Taxes, Ends Guaranteed Medicare, Privatizes Social Security, Erodes Health Care
- The Ryan plan would cut in half the taxes of the richest 1 percent of Americans — those with incomes exceeding $633,000 (in 2009 dollars) in 2014.
- The higher one goes up the income scale, the more massive the tax cuts would be. Households with incomes of more than $1 million would receive an average annual tax cut of $502,000.
- The richest one-tenth of 1 percent of Americans — those whose incomes exceed $2.9 million a year — would receive an average tax cut of $1.7 million a year. These tax cuts would be on top of those that high-income households would get from making the Bush tax cuts, which are due to expire at the end of 2010, permanent.
Where is this guy’s head?
Radical Changes in Health Coverage?
… he says. How? By giving seniors vouchers so they buy health insurance from for-profit insurance companies that drain 20% off the top to cover for extravagant executive salaries and marketing and sales commissions and campaign contributions, all of which are added to the bottom line and passed on to the patients??? Or hey, they might be able to get a Medicaid policy!
Sweeping Changes in Social Security?
… he says. Is he serious??? So we make the geezers work until they are 67 or 69? And we do what with those youngster’s looking for our jobs? Put them on unemployment? In the streets?
If our graduates can’t compete with China’s and India’s wages at 1/10th ours, what jobs are we educating them for? The first thing we must do is get our politicians (including Ryan) off the payroll of corporations so they can make decisions that are in the best interest of our own nation’s growth. They must be working for US and not THEM.