Castor vs McCain on Social Security

U.S. Rep. Kathy Castor joined a Barack Obama conference call (audio here)to blast John McCain for supporting private savings accounts as part of his recipe for Social Security reform: "I'm running out of fingers and toes to count the number of times now that John McCain is aligning himself with the policies of George W. Bush...In the state of Florida we are being squeezed; property insurance, health care costs, gas prices, and you're telling me now that John McCain is going to take the safety net out from below Americans and hardworking families and seniors that put so many years into their jobs and their families? It's a real shame."

McCain campaign spokesman Jeff Sadosky: "Kathy Castor’s attacks are exactly what is wrong with the Social Security debate in Washington, and they will not do a thing to calm the worries of Florida’s seniors, who, while living on fixed incomes, are faced with rising food and fuel costs and a home mortgage crisis.  The disgrace is our failure to fix the long-run imbalance in Social Security -- a failure of leadership evidenced by our willingness to kick to problem to the next generation of leaders. John McCain was also describing the looming and increasing demographic pressures confronting the Social Security system and Washington’s utter failure to address it."

Comments

Both parties su-k

[Donald Lance]

Washington will NEVER fix this problem! It's been festering for years and neither party wants to do anything about it. I don't expect to see any of this money when and if I make it to retirement.
So what are the alternatives? Saving for yourself, much like the private savings accounts mentioned above. At least McCain is dangling the carrot out there unlike some pols who simply want to continue the pay-as-you-go plan that has put this program in the critical stage of existence. The Dems will never allow this program to be privatized because that would allow people to have a say over their retirement monies and not the govt. This is a perfect example as to why the 2 party system must be made obsolete like the social security program soon will be.

Talk about fear mongering.

Or, do you think seniors are just stupid Ms. Castor?

It's real tough to make a decision on a Government bond fund vs. a mutual fund.

Oh, you're right...the SS accounts are doing so well now under the current system, it'll be wwaaaaay into the future (12 years) that Social Securiy payments will start dwindling and they'll totally go away by 2040.

I will say it again, both parties su-k

I am so sick of the same old partisan cr-p responses that we ahve been hearing for decades, our parents heard for decades before we did. It is time for a real change. No more partisan politics.

[Rockabilly]

South Tampa Stepford Democrat Kathy Castor should be advised that McCain is also aligning himself with the former Democratic senator from New York, Daniel Moynihan:

http://www.aei.org/publications/pubID.8887/pub_detail.asp

Betty Castor is part of the democratic Congress led by Nancy Pelosi that have an all-time low approval rating near 10%. This approval rating makes GW Bushe's 35% approval rating look like a hero.

[john]

McCain wants to reign in the outrageous wasteful spending of Castor and Congress.

No wonder she is scared.

[The Rock]

7:39 Betty is Kathy's mother and the former Democrat nominee for the Senate who lost to Mel Martinez. She is also the former USF president who gave Sami Al-Arian tenure then complained she couldn't fire him because he had tenure. And that 9 percent approval rating for the Pelosi-led Congress is the lowest ever polled.

How about this solution for Social Security: Tax all earned income before deductions and cut the current tax rate on individuals and employers as much as possible. The current system is regressive and punitive, especially when some corporate execs pay themselves so much that their SS obligation is met between 9a.m. and lunch on January 1st.

[Rockabilly]

Lower the rate at which Social Security is taxed. It will be a huge tax cut for lower income workers and small business. The ceiling on wages can be raised if the rate is lower. All taxes are onerous but some taxes are necessary and the best tax has a wide base, low rate, and simple instructions.

[Donald Lance]

But Rock, if they do that, they couldn't pay their existing obligations. So the question for the s.s. fix becomes "Who do you want to piss off? The people currently on s.s. or the people who are currently paying but will never receive it?

How about we just do away with income tax and go to a national sales tax?

A portion of that could go to the SS Fund.

Regardless, Castor's comments are just wrong... or she really thinks seniors are dumb. Either way, she doesn't seem too bright.

What do you expect from a socialist in training like Castor?

The time has come to either end SS or eliminate the payroll tax as a method to pay for it.

Most people are going to opt for keeping SS. So, do so and end the payroll tax as a way to fund it. Instead take the necessary funds straight out of general revenues. Then equalize the benefit for all those qualifying at a specific standard such as 1.5 times poverty.

If Congress had to pay the real bill in real revenue instead of funny money IOU's and recycled paper with new ink then it might force spending cuts in all the red carpet walking foreign aid and corporate welfare programs.

Too bad SS won't be ended though. Like most people I manage my family's savings and insurance needs much better than bureaucrats in Washington do. Of course they would have more favorable rate of return statistics if they did not use the SS/Mediscare programs as liberal catch all dependency funds. But it is what it is and that is what they have done so who am I to dispute their incompetence.

9:04 there are a lot of mismananaged programs in DC--think defense spending--but Social Security isn't one of them. That's one reason it's so popular. Another reason is that it enables seniors to be more independent than they might have been otherwise. That's good for them and good for their kids. Think of it as a fixed rate annuity. If you're lucky and live a long life, you win. If you're unlucky, you lose. You sound like you've been lucky. I hope you remain so.

[Mencken Jr]

9:28 - Don't waste your breath. These folks have drunk the "I've got mine, you're on your own!" Republican Kool-Aid so you'll never reach them.

Mencken you are right again. A "bunch" (one Toad) of Republicans telling us we need to reduce spending to save social security when they're spending money hand over fist on Corporate Welfare and a war for Oil. Keep your hands off of OUR F-ing money you Republican scumbags. I put it there, and I want it safe and guaranteed to be waiting for me when I get old, not "invested" the hands of some dirtball corporation like Enron or Exxon-Mobil. And when Donald Lance blows his retirement wad on speculation on some criminal business, I don't want to pay for his damn irresponsible asz either. So make him pay his share and tell him to shut up; we'll make sure it's there for him too.

Such anger.

Perhaps Dr. Phil will have you on his show to deal with the anguish of having to choose from A or B for your Social Security fund.

You do seem quite angry. I know it's tough.

As pointed out, the current system will last all the way til 2020. Why, by 2040 when it's all run out, you'll already be dead and gone so it won't matter so much for the rest.

Good boy, then. Carry on.

Yeah, such anger. Such unwillingness to listen to opposing views and eagerness to personally denigrate opponents and their motives. That is the current state of the liberal-left mind in North America: dismal. Blinkered. Vulgar.

the rock is a moron. martinez one because all he did was point about al-arian. and we all know al-arian didn't do squat except fall into the cross hairs of first ashcroft then gonzolez. wake the f up idiot.

mel martinez has been an utter disappointment

[tom]

Contrary to McCain's comments about social security being an "absolute disgrace", I believe it has served people very well for 70 years. Why is it that republicans are so anxious to dismantle the most successful government program ever? Any chance Wall St. lobbyist have been donating to the GOP with a view to make large sums managing this money?

Removing the income cap on the tax would cure social security's problem. Of course that is not very popular with the wealthy.

[The Rock]

Al-Arian did a great deal of "squat" and even the Saint Pete Times had to admit is guilt:

http://www.tampabay.com/opinion/editorials/article470321.ece

Sorry, 10:30 but you're one needs to wake up. I won't bother to call you names in return because it's childish and petulant.

Yes. The problem is that there is not enough money in social security. So why should we let more people take more money out? That doesn't make sense.

10:26 I have every right to be mad, and you Republicans are responsible. Your attempts to rehab your poster boys Bush and Reagan smack more of efforts to rationalize away your own evil actions and give you something to sooth away your conscience when and if it ever makes an appearance. You're wrong, you've failed, now get out of the way and quit obstructing those who would try to fix the problems you've caused. Traitorous scum.

calling the rock a moron may be childish but it doesn't make it any less true.

Uh, 10:47, Obama voted with the Republicans today.

Maybe go out and find someone to have a little fun with. You seem wound a little tight. In the meantime, here's the link for ya:

http://www.drphil.com/beondrphil_main/

[The Rock]

10:47 is a fanatic and an imbecile, as are most of the lefties who post here. Pathetic jerks.

[The Rock]

Now get this, kiddies: even a lefty blogger refers to the Obama as an Empty Suit:

http://firedoglake.com/2008/07/09/obamas-sweet-nothings/

[Barack W. Bush, Kiss My Tush]

http://www.realclearpolitics.com/articles/2008/07/barack_w_bush.html

Yeah, Kathy. God forbid people should be in charge of theis own futures. Yeah. Better let the government handle all our money. THEY know what to do with it. NOT!

Barack HUSSEIN Obama: UNTRIED, UNAMERICAN, UNFIT.

The federal government is in debt over 9 Trillion dollars and you are still confident that they will do something on your behalf for your benefit. Is socialism a blind folly or what!

Just wait to see what happens to your "finanical security" if this nation is joined into a North American Union and the effort is undertaken eliminate poverty in mexico. You will be meeting them half way up as the "government" shares your "financial security" because it is not "yours" at all.

[Sick of Irresponsible GOP]

I hear the same old GOP spin: "We screwed everything up - that just proves you shouldn't trust the government." Without GOP tax cuts and the War in Iraq, we'd have fixed our Social Security deficit by now. We don't need less government, we just need less Republicans in it.

The problem with Social Security is, it CAN'T be "fixed". Yes you can raise taxes or reduce benefits or raise the retirement age or a combination of all of these.

But that doesn't change the fact that it is inherently a ponzi scheme, that, were it started by a private entity, those people would have been put in prison.

But since it is a government program, it's OK?

Tell me how this makes sense?

by the way, you all know that you have no right whatsoever to any social security benefits, don't you?

Congress could eliminate the program tomorrow and that would be the end.

REMEMBER, a couple of years ago, DUMMDRUNK was all for "privatizing" SS and letting us invest in the "market"?

looking pretty good now, isnt the lyinganus's idee, eh??

REMEMBER, too, the idea was to give BIG $$$$ to DUMMDRUNK'S "market" pals for "helping us invest our $$$$"?

what a lying sack.................

Eliminate Spending on Corporate Welfare and War for Oil. Put the money in Social Security to ensure financial well-being for our senior citizens.

Tell me how that doesn't make sense.

Yes, it's a government program that benefits everyone. That's what I like about good government, it benefits the people, not Corporations.

but you don't own that money and have no right whatsoever to any of it.

as long as you understand this fact...

we put the folks in charge of Enron in prison for essentially lying about its assets...and rightly so.

why can't we put democrat politicians who won't speak honestly about social security in prison?

So McCain says: "Americans have got to understand that we are paying present-day retirees with the taxes paid by young workers in America today. And that's a disgrace. It's an absolute disgrace, and it's got to be fixed."

Now, my comprehension isn't what it used to be, but it sounds as if McCain is condemning the current system of Social Security, which is a pretty well established part of the agenda of conservatives. Now watch the spinning McCain. He'll tell you that's not what he really meant. He'll tell you that he supports Social Security so much that he wants to save it. And he may be telling the truth. Of course that will mean that he was lying then.

I owe a huge, huge thank you to you Republicans that I haven't delivered yet.

Thank you, thank you, thank you. For overreaching. For nominating John McCain, your best candidate with no attachment to your base. For not having any driving philosophy other than your slogan and even abandoning that slogan. For building a majority based on hate as the country increasingly moves in a different direction. For being willing to grant your leaders anything.

It is because of you that Democrats will win this fall. Senate seats, House seats, the Presidency. So well in advance, I just want to say thank you.

Could one of you please do me a favor? Repeat the line about how Republicans caught in sex scandals are better than Dem scandals because Republicans resign from office after they've been found out.

That has nothing to do with Social Security or this post, but it is sooooo cute.

"but you don't own that money and have no right whatsoever to any of it.

as long as you understand this fact..."

Sounds like more rationalization from crooked neo-cons who want to give my Social Security money to their corporate buddies. I earned the money, gave it to the government to put in a program that guarantees it will be there for me when I retire. If it doesn't work that way, it's because of greedy Republicans who want to get their hands on the money for other purposes. Vote out the Greedy Republicans and we won't have to split hairs over the technical status of the SS program. Lying Scum.

In the 1960 case of Fleming v. Nestor, the U.S. Supreme Court ruled that workers have no legally binding contractual rights to their Social Security benefits, and that those benefits can be cut or even eliminated at any time.

"To engraft upon the Social Security system a concept of 'accrued property rights' would deprive it of the flexibility and boldness in adjustment to ever changing conditions which it demands." The Court went on to say, "It is apparent that the non-contractual interest of an employee covered by the [Social Security] Act cannot be soundly analogized to that of the holder of an annuity, whose right to benefits is bottomed on his contractual premium payments."

Social Security is not an insurance program. It is simply a payroll tax on one side and a welfare program on the other. Your Social Security benefits are always subject to the whim of 535 politicians in Washington.

"I earned the money, gave it to the government to put in a program that guarantees it will be there for me when I retire."

First of all, you didn't "give" the government anything...the government seized it from you.

Second, there is no guarantee that anything will be there when you retire. As of right now, there is no money. There is a piece of paper in a file drawer with a rather large IOU on it. That's it.

Congress can decide tomorrow to end the program. Then you get nothing.

Do you trust your politicians that much?

I don't...not from either party.

[White T.]

Apparently to some. From the City Hall Blog at the Dallas Morning News:

A special meeting about Dallas County traffic tickets turned tense and bizarre this afternoon.

County commissioners were discussing problems with the central collections office that is used to process traffic ticket payments and handle other paperwork normally done by the JP Courts.

Commissioner Kenneth Mayfield, who is white, said it seemed that central collections "has become a black hole" because paperwork reportedly has become lost in the office.

Commissioner John Wiley Price, who is black, interrupted him with a loud "Excuse me!" He then corrected his colleague, saying the office has become a "white hole."

That prompted Judge Thomas Jones, who is black, to demand an apology from Mayfield for his racially insensitive analogy.

Mayfield shot back that it was a figure of speech and a science term.

Judge Jones should be very glad that the central collections office has not become a white hole, a theoretical object that ejects matter from beyond its event horizon, rather than sucking it in. It wouldn't be fun for Dallas to find itself so near a quasar.

Anyone wanting to know a good deal about black holes should read the excellent new book, The Black Hole War, by Leonard Susskind, which has just been released. I'm in the middle of it, and the book's a fascinating tour of modern physics written for the layman. It's just been marvelous so far

1:06 and 1:19 Neither of you neo-con apologists have addressed the issue. You continue to argue about the technicalities of the SS issue versus what the expectations are. Currently there is one big IOU in my file thanks to George Bush who cannot restrain himself from spending our tax money on Corporate Welfare programs. My benefits may be under control of 535 politicians in Washinton, but when our systems functions properly, they serve at MY whim. They didn't "take" my money because I agree that they can hold it for me. Now let's vote out the criminal Republicans and let the DEMs get our SS system back in order.

No there has been a big IOU for decades, because they use part of the money that comes in to pay benefits and the rest goes into general revenue.

It's not a Republican vs Democrat issue...both parties do this, because of the way the system was set up to begin with. It is a fundamental flaw in the Social Security system. It was never "in order" in the first place...we just pretend it was.

Stop being so obtuse and take your democrat blinders off.

1:38-

the Democrats control Congress. They are not interested in "fixing" Social Security...Pelosi has even said that everything is fine with Social Security.

It's not. It was never a good system to begin with.

Stop spending our tax dollars on Corporate Welfare and War for Big Oil. Balance the budget and fix Social Security.

Problem Solved!

[joseph]

i want to get rid of social security -- phase it out.

i am 31, i don't think i'll be getting any of the money i've put in over the last 15 years of working so just do this:

Pick an age and understand there will be a chunk of people angry over the age you pick. I say 40.

Increase the amount of 401k contributions people under 40 can make (that will cost tax revenue) AND include a gov't sponsored matching program that is extremely small (another expense).

Keep social security tax but all payments go into the general fund. (they kind of do anyway now with IOUs).

Use that money to offset the costs of the increased 401k contributions and matching fund as well as current payments to pensioners.

Phase everything out over 15 years. Take the uncovered expenses and add it to our national debt.

It seems like a giant pyramid scheme to me anyways; so let's bite the bullet and be done with it.

The democrats have a dismal all-time low approval rating near 10%.

It makes Pres. Bush's approval rating look terrific like he is a genius