John McCain wants to Privatize your Social Security!


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Look out below!  The Wall Street rollercoaster is adding MORE grey hairs to stock market casino goers.  Now just imagine if John McCain gets his way and privatizes Social Security.  If he had already done it to us, just take a peek at the chart and imagine what your retirement situation would look like in just this last year alone. I guess none of us has to worry about the skyrocketing costs of gas, food, insurance. Rest assured!:   None of us has to worry about losing homes or even our right to vote (!) as the same old players keep telling their same old lies about what they’ve been doing to us for the last 8 years.  The GOP (McCain is their front guy this year) wants us to hand over our Social Security retirement funds so they can scam us by charging huge fees, creating vague and unaccountable bureacracies and betting it all on a spin of the Wall Street casino wheel.  Who’s in?   Ante up!  Vote Republican  and you’ll get a chance to see the next 4 years of what the GOP has planned.  If you’ve loved the last 8 years, you’re going to adore the next term under McCain the “reformer”.

 

I have heard Sarah Palin state that she and John McCain are going to reform our country.  I don’t think our “country” needs reforming.  I think we need to kick the bums out who have mis-governed for the last two presidential terms.  Our country cannot afford Republican mismanagement.  They’ve done enough damage.  Slap their hands away from our Social Security retirement funds.  Just say NO!  More information at the link.

McCAIN WANTS TO PRIVATIZE SOCIAL SECURITY

McCain Voted for Bush’s 2006 Social Security Privatization Plan. In 2006, McCain voted for the Social Security Reserve Fund. The proposal would shift Social Security’s annual surpluses into a reserve account that would be converted into risky private accounts. [SCR 83, Vote #68, 3/16/06; SCR 83, Vote #68, 3/16/06]

In 2000 McCain Wanted to Divert Social Security Money to Private Accounts. The Wall Street Journal reported that “[a] centerpiece of a McCain presidential bid in 2000 was a plan to divert a portion of Social Security payroll taxes to fund private accounts, much as President Bush proposed unsuccessfully.” The plan would put workers’ retirement money into the risky market and reduce the amount of Social Security payments they would receive from the government. The plan would undermine the Social Security system. [Wall Street Journal, 3/3/08]

McCain STILL Proposes Privatizing Social Security—Despite What His Website Says. McCain told the Wall Street Journal he still backs a system of private retirement accounts that he supported in 2000 and President Bush pushed unsuccessfully. The Journal reported he “disowned” details of a proposal on his 2008 campaign website that says he would “supplement” the existing Social Security system with personally managed accounts. But when asked about the position change he denied it and promised to change the website to reflect his true position. “I’m totally in favor of personal savings accounts… As part of Social Security reform, I believe that private savings accounts are a part of it—along the lines  that President Bush proposed,” McCain told the Journal.[Wall Street Journal, 3/3/08; Campaign Website, accessed 3/3/08]

McCain Might Raise the Retirement Age and Reduce Cost-of-Living Adjustments. “[T]he McCain campaign says the candidate intends to keep Social Security solvent by reducing the growth in benefits over the coming decades to match projected growth in payroll tax revenues. Among the options are extending the retirement age to 68 and reducing cost-of-living adjustments, but the campaign hasn’t made any final decisions. ‘You can’t keep promises made to retirees,’ said Mr. Holtz-Eakin, McCain’s chief economic aide.” [Wall Street Journal, 3/3/08]

McCain Supported Deep Cuts That Put Social Security Benefits at Risk. In 2005, McCain supported a Social Security plan that would require deep benefit cuts or a massive increase in debt. That same year, McCain voted against prioritizing Social Security solvency over tax cuts for the wealthy. [SCR 18, Vote #49, 3/15/05; S. Amdt. 144 to SCR 18, Vote #47, 3/15/05]

McCain Voted to Use Social Security Money to Pay Off National Debt. In 2003, McCain voted to use Social Security funds to pay off federal debt. [HJR 51, Vote #201, 5/23/03]

McCain Voted Against Protecting Social Security Solvency with a Strategic Reserve. In 2001, McCain opposed reducing tax cuts for the wealthy to create a strategic reserve for Social Security. In the same year, McCain voted against a proposal to create “lockboxes” to protect Social Security and Medicare. [H.R. 1836, Senate RPC, Vote #145, 5/22/01; S. Amdt. 29, Vote #22, 3/13/01]

McCain Voted to Replace Social Security with Risk-Based Investments.

In 1998, McCain voted twice to replace Social Security’s guaranteed benefits with income from risk-based private investments. [SCR 86, Vote #56, 4/1/98; SCR 86, Vote #77, 4/1/98]

 

 

 

 

 

 

 

 

 


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