Ryan’s plan to gut Social Security

Turning over our retirement dollars to the banks is absolutely stupid! But I’d expect that of a politician.

By Jack E. Lohman

Questions:

  1. What is it about “corrupt bankers” or failed banks does Rep. Paul Ryan not understand?
  2. Where would we be today if George Bush had succeeded in privatizing Social Security prior to the crash?
  3. 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.

Resources:

Fact Check on Paul Ryan’s SOTU response
Paul Ryan’s Plan for Millionaires’ Gain and Middle-Class Pain

7 Responses to Ryan’s plan to gut Social Security

  1. It’s stunning the amount of political capital this guy has for such a horrific plan. Can you imagine anyone else, Obama for instance, proposing a plan now that balances the budget 50 years from now. That’s 50 years!!! Remember when CBO said it was almost impossible to make 10 year estimates? Walker has the same plan, cut taxes first, then propose the “backed into a corner” pain. What choice will Wisconsinites have once they put in place WMC’s wish list?

  2. Yea, this guy is something else. I think they have a plan to catapult him into the presidency. Thanks but no thanks.

    • Jessica says:

      , “how do you think they pay for the “FREE” hatelh care.”Free” hatelh care is great until you need a growing brain tumor removed and prefer not to watch it grow while you wait 8 months for the operation like the man in the movie or have some other illness.

      • You are misinformed. Urgent care is immediate even in Canada. And we all pay 100% of health care costs even today, even if is only at the cash register in increased costs. But why piss away 20% of the costs on a needless third-party billing system, when that money could be spent on your brain tumor instead?

  3. When will this madness stop? Perhaps when the London of Dicken’s David Copperfield is reborn in New York City? Maybe when more Hans Christian Andersen Little Matchstick Girls freeze to death as a side effect of family desperation? Keep trying to take away social safety nets and we’ll fall back into those dark days when the difference between rich and poor was life and death.

  4. I agree, Lex. I think Ryan ought to concentrate on cutting pay, health care and retirement for congressmen and other federal workers, and then cut the corporate giveaways they exchange for campaign funding. And as I learn more about it I would throw in foreign aid bribes as well.

    Paul Ryan is more of the same. It doesn’t take them long to fall into the groove, does it?

  5. So now we have Ryan running both for House AND VP, all on his taxpayer-paid salary!