2/19/2023
Pence needs to take another step and explain that the government is GIVING each illegal ~$1,400 per month to be in this country and Pence talks about privatizing it – what an insult to every person who has paid into social security. If we had each of those dollars sent to the government and put into our own account and invested it instead of the government using the funds as their own piggy bank – we could all receive a lot more than we are now receiving.
Just like the Post Office which is operating, privately, and every year they never make a profit. Look at the Pentagon – they don’t even have to account for the amount they receive. What a bunch of crock.
Stop giving all of this printed money away to other countries.
We earned our social security money. Every month they take away part of it to give to people who can’t afford to pay for their Medicare and this giveaway money has not been earned. So – people on social security are giving to charity EVERY MONTH when they pay part of what they should receive and help others who can’t. GIVE US A BREAK AND STOP FOOLING WITH OUR SOCIAL SECURITY.
Privatizing social security will not help. All you are doing is getting a third party who can steal it.
Can Pence tell me how much money each person’s amount who is putting into social security is worth? How is the government investing it? For example if a person put money in for 43 years – can Pence tell me what my amount is worth. What else do they pay out of the social security?
Just take a look at the debt clock and look at HOW MUCH social security IS SENT TO IT? It tells me the government is not a GOOD steward of our income taxes we pay. Too much money IS given away which hasn’t been earned.
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Mike Pence Calls for Privatizing Social Security in Fox News Interview
Privatizing Social Security would disproportionately impact people of color and low-income earners, research shows.
By Chris Walker , TRUTHOUT
February 17, 2023
Former Vice President Mike Pence delivers a speech at The Heritage Foundation in Washington, D.C., on October 19, 2022.
Former Vice President Mike Pence, who is likely to run for the Republican nomination for president in 2024, recently called for having a “conversation” on privatizing Social Security, Medicare and other critical social safety net programs.
“I think we can replace the New Deal programs with a better deal,” Pence said in a Fox News interview on Thursday.
(Pence sounds like a carnival barker.
Pence suggested that Social Security — a social insurance program that provides disability and retirement benefits regardless of income levels — should be privatized and replaced with a system in which people can have their own accounts that are tied to investments in the stock market and personal contribution levels.
Such a change could be devastating for people with low incomes, who are often unable to contribute to retirement accounts. Recent factors like the pandemic, inflation, market pressures and high gas prices — which have made it more difficult for most Americans to save for retirement — have hit people with low incomes even harder.
Replacing Social Security with a private system would also have a disproportionate impact on people of color, research has found. An analysis by the Center on Budget and Policy Priorities, which looked at privatization efforts in 2006, noted that any change to a private system would inevitably require benefit cuts, which would disproportionately impact Black income earners’ retirements.
“The benefit cuts would represent a larger percentage of African Americans’ overall retirement income because Social Security makes up a much bigger share of retirement income for African Americans than for whites,” the report stated.
A separate report from 2016 by In the Public Interest noted that privatization efforts for other public goods and systems have negatively impacted access for marginalized groups. Such efforts can “create parallel systems in which one system propped up by private interests typically serves higher-income people, while another lesser quality system serves lower-income people,” the report said, adding that, “in some situations, poor individuals and families can lose access to the public good completely.”
“All of these cases increase socioeconomic segregation, which often results in racial segregation,” the report stated. “When they are privatized, public goods that were meant to serve everyone can morph into separate and unequal systems that further divide communities and perpetuate inequality.”
At a fundraising event earlier this month, Pence claimed that privatizing Social Security would lower government costs — a statement that many experts later pointed out was false, with Salon reporting that similar proposals in the past would have led to trillions of dollars in federal debt.
President Joe Biden, who is likely to seek another term as president, warned during his State of the Union address last week that Republicans aimed to cut Social Security and Medicare by allowing the programs to “sunset” — meaning that they would expire after a certain number of years unless new funding was passed, rather than being automatically renewed.
“Some Republicans want Social Security and Medicare to sunset,” Biden said during his speech, eliciting jeers from Republicans in the audience.
“Anybody who doubts it, contact my office, I’ll give you a copy of the proposal,” Biden said.
Biden was referring to the “12-point Rescue America” plan authored by Florida Republican Senator Rick Scott, which has been endorsed by other members of the party. The proposal called for sunsetting all federal legislation within a certain number of years, requiring laws that are automatically renewed year-by-year — including Social Security and Medicare — to be voted on regularly by Congress.
After the plan was met with widespread criticism, Scott amended his proposal, claiming that he “never intended to apply” the sunsetting clause to Social Security or Medicare.
The Biden administration has showcased how several members of the GOP have explicitly stated that they intend to destroy Social Security completely.
“It will be my objective to phase out Social Security. To pull it up by the roots, and get rid of it,” Sen. Mike Lee (R-Utah) once said, the White House pointed out in a fact sheet.
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And, if you did that Mr. Lee – what would you replace it with to help those who do need help – now that you folks have emptied out the social security account?
kommonsentsjane
kommonsentsjane 