How the Republicans
Plan to End Social Security
Updated: Sept 5, 2008
In the spring of 2001 after the republicans
had seized the White House, a meeting was held in a hunting lodge in
rural Montana. Though extensive security measures were employed to prevent leaks,
some information has been revealed.
Almost since it's creation, the political right has been
planning and plotting the eventual destruction of the entire
Roosevelt "New Deal" program - including social
security.
They also know that given the size of the soon-to-retire baby boom
generation, very soon the cost of Social Security retirement
benefits will force massive reductions in military spending which
will reduce the power and influence of the military industrial
complex - something the right finds
entirely unacceptable.
So a meeting was held with the goal of
identifying and tailoring specific tactics that would result in the
eventual curtailment of the whole system. Due to the popularity of
Social Security stealthy tactics that would not inflame retirees yet
would cause significant damage to the system had to be found.
One such tactic was the
privatization
of the system. Under privatization, Social Security funds would be
handled by major brokerage houses (with most of the cash flow being
channeled through only those firms that made substantial donations
to republican politicians.)
These firms would make billions in earnings by
simply imposing a host of various fees on the accounts. Any account
activity would trigger some sort of fee.
The plan was to sell privatization by stirring
up resentment against the whole Social Security system within the
younger generation. It was a naked appeal to greed.
The whole project backfired big time. Young
people showed up in droves at the town meetings bush held. But
instead of supporting privatization, most opposed any change to the
system. When they were invited to speak they pleaded with bush to
leave the system alone as the resources it provided were critically
important to the continued viability of their entire families.
With each meeting, bush saw his already paltry
approval rating slide even more. Though he swore he would not stop
until the system had been privatized - in the end he was forced to
abandon the whole project.
Enter "Stacking"
Stacking is plan B and I predict that it will,
if activated, completely destroy Social Security.
Under the present system each January benefit
recipients are granted a COLA - cost of living adjustment. The
increase is intended to help retirees keep pace with inflation. The
important fact here is this -
every single recipient
receives exactly the same percentage increase.
Under the new stacking program, recipients
will be divided into two or three categories. Only those retirees
who have no assets or other source of income will receive the full
annual increase.
Those who have more assets or some other
source of income will receive a smaller increase - say half the full
boost.
And those who the government feels are well
off, will receive no
annual increase at all. They will see the purchasing
power of their monthly checks slowly and steadily lose ground.
Now none of this will appear all that
threatening to the average retiree so few will find it more than a
small headache. But over the long term it will inflict
fatal damage.
When the inflation rate is low, eliminating
the COLA won't affect lifestyles all that much. After all it only
costs the retiree little more than pocket change. But when inflation
rises to double digit levels, the loss of COLA can quickly damage
the standard of living of almost all retirees.
And make no mistake -
inflation is in our
future. As I write this in early September 2008 the
overall inflation rate is hovering around 7% and is bound to
increase over the next year or two.
This makes the stacking tactic even more
damaging and quick-acting. If this deceptive program ever sees the
light of day - tens of millions of Americans will suffer as they
watch their benefits tumble.
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