In this edition of the "Swift Report for Kids" we'll learn all about our President's plan to strengthen Social Security. What is Social Security and why do we need to do something about it? Try the "Social Security and You" Quizzle and you will see why Bush's privatization scheme is the most important domestic policy since the constitutional amendment to preserve the sanctity of your parents' marriage.
By Gail Hernstrom, EdD
Editor's Note: This is the first in our occasional series, the Swift Report for Kids. In each edition, our paid education consultant, Gail Hernstrom, EdD, will take a complex issue and make it accessible to kids, using her patented "Quizzles"TM technique. For today's feature, Hernstrom, the author of "When Different is Bad: Raising Opponents of Affirmative Action," tackles Social Security privatization. Her innovative quiz helps young people understand the benefits of privatizing the government-run retirement program. Take the Social Security "quizzle" and see for yourself why privatization gets a perfect score.
Jacob Dalton
A New Social Security Plan?
It’s about time!
President Bush’s new social security plan not only shows enthusiasm, vision, and a desperately needed change for the future generations of America, but also, is updated for today and tomorrow’s America. It ‘s dependable for future retirees, and is more profitable for households which, even today, already must cope with the increasing cost of living. As a result of this new envisioned plan, we will have greater security and financial benefits.
Now, read and see if what I have to write doesn’t effect you, as I tell a story about a man not so different from you or me.
An average hard working American has just retired. He’s 60 years old, and would like to enjoy life now. After all—he’s earned it. He has money in the bank and a “perceived” nice little retirement egg to depend on.
As the months and years go by, he becomes more and more disappointed with every social security check. He realizes that the amount of money is getting smaller. As a result, he must now rely on his savings accounts and other stashed away money; which, was only intended for use on those rainy days; now, is needed to keep bills paid and food on the table. Sooner or later, his funds are depleted, and the old man mournfully realizes that he is broke. To his justifiable rage, he is forced to take on a job again, and wonders, how he could have done things differently? His only fault was depending on a system that ultimately failed him.
Unfortunately, this story is true. Not just for a few individuals, but for a growing number of Americans who also trusted in the “system”.
The problem is that there will be more older people taking money in need from social security, than there will be younger people in the work force to keep the social security account in the plus. The bad news for us is that our fate won’t be much different in the future, unless, we change, or “update” the system before its too late.
It doesn’t come as a surprise to find that the government had never, at first, intended for social security to be used for retirement. It was first created to assist the needy, the unemployed, and other welfare programs in its day. Over the decades, Americans have begun to think of social security as retirement and depend on it. After all, why shouldn’t they? It was their money; put aside by the government for their own benefit. Yet, this was the flaw. As more Americans began demanding retirement benefits from a system that wasn’t created for retirement, the government had to increase the social security tax, but could only increase it so far. Americans are now sitting on a retirement budget problem that was either unforeseen, or ignored.
There is a large demand now to update our Social Security for the 21st century. Americans want a dependable program that will prove to be profitable for their future retirements. Bush’s new social security proposal gives us, “the people”, control over our own social security accounts. They will be more dependable because you won’t wonder if you’ll have a retirement fund to support you anymore. They are based on the greatest economy in the world. Ours! Where the world’s largest revenue is created (11 Trillion dollars for 2003), and many new technologically advanced “Billion Dollar” industries are rising every year. With an economy like ours, you can depend on a new “pension plan” type social security retirement. You can also depend on your retirement supporting your family in case of death. In the new plan, a loved one’s “pension plan” would pass on to his/her beneficiaries upon death. Unlike old social security, where no matter how much money you put into it, upon death, your family would receive very little if anything at all.
The last thing I want to point out is the profitability of Bush’s new social security proposal. Today, economists tell us that before the year 2030, there will be “no” social security left. Meaning, the current social security account in the future will have very little money if any at all, because every dime that will go into it will be sucked up by some expense leaving us, as my friends call it, “S.O.L.” (I dare you to ask any congressman in a letter to tell you the dollar amount in the social security account today? Hint: don’t hold your breath for a response.) The return on money in today’s social security as stated by the president, “is less than 1%”. That, by itself, is a joke! With the president’s new proposal, our retirement funds will be individualized and will net a return of 7-8% on an overall average. That would yield us more than ten fold of what we would get with today’s social security (You do the math).
I wrote a quote once that stated, “Ignorance is a bliss, until the world overwhelms you”, meaning, those that choose to be ignorant let others make decisions for them, but not in their best interest. There is a new century at hand that demands advancement and change, which, includes a new social security plan to benefit us with all Americans. I truly believe that this new plan is in our best interest, and that we must act in writing to our senator and letting him know we support it.
Posted by: jacob Dalton | February 26, 2005 at 10:27 PM
This quiz is not cute; in fact, it worries me very much to think these NeoCons Fascists would try to propagandize you into thinking that SSA is in drastic need of change when it's not!
If these NeoCons change the SSA, there's many of us Baby Boomers who are between 45 and 54 will be stuck in the middle of this B*ll Sh*t who will not benefit from either the new changes or the Old Standard Social Security program because the cut-off age will be 55 and it's too late to start the new program to make any difference!!! All of us will lose everything we paid into all of our lives.
Also, All you filthy Rich, greedy people who will retire into a Million Dollar per Year Nest Egg, YOU DON’T NEED TO RECEIVE ANY SOCIAL SECURITY BENEFIT!! Leave it for the rest of us “WORKING” Saps who did not have the same breaks you got!
C'mon sheeple, let's not drink the Cool-Aid yet!!!!!
Posted by: Mr. Angry Dutchman | February 19, 2005 at 09:01 PM
Is this site for real? I've been reading it for a half hour now and can't figure out if it's genuine or someone's subtle joke. "The elderly like to gamble"?
Only someone in flyover country could take this seriously.
Posted by: Matthew Davidson | February 15, 2005 at 10:21 PM
Are ALL of you people that misinformed about Social Security. I hope you guys have a helluva nest egg, because if you don't, and expect SS to be there, you are in for a RUDE awakening!
Stupid!
Posted by: Mr. MaGoo | February 15, 2005 at 09:25 PM
Of the two, I prefer Ashcroft.
Posted by: mistah charley, ph.d. | February 12, 2005 at 08:51 PM
After reviewing this so called quiz, I find that every single bit of it is based on lies about Social Security. Don't buy it! There is plenty of information out there for you to access about the REAL agenda behind the corporate "theft" of social security. Don't believe the propaganda oozing from cute litte "quizzes" such as this. Was there a cute little quiz about Iraqi Weapons of Mass Destruction? Don't be fooled. Fight the lies!
Posted by: Tim Coonrod | February 12, 2005 at 07:49 AM
Listen up all you kiddies out there. Time for a lesson in FACT. Social Security is NOT in crisis and if it is privatized now, you will be worse off when you retire than you would be if the system was simply left alone. What is happening by privatization is that you will now be giving a very large chunk of YOUR RETIREMENT money to greedy corporations, making them richer than ever! Don't be fooled by all of the hysteria being stirred up by our corporate president. Fight this proposal now, because, if you don't, you will CERTAINLY be sorry later!
Posted by: Tim Coonrod | February 12, 2005 at 07:44 AM