Olbermann on Hume, FOX, Roosevelt and social security

[stray cat]

http://www.msnbc.msn.com/id/6844293/#050214a

Roosevelts message was pretty straightforward. For 1935, people who would only take money out of Social Security and not put any in, should have their contributions covered half by the federal government and half by the states. Later on, those contributions should be replaced by the “self-supporting annuity plans” — which Roosevelt has already defined (“Second…”) as the actual Social Security system. Buried in the formality of his third point, FDR is talking about things we would later know as IRA’s and Keoghs and 401k’s.

But look at how Hume mixed and matched the original Roosevelt quotes on February 4th (and we’re quoting this verbatim from Fox’s website) “…it turns out that FDR himself planned to include private investment accounts in the Social Security program when he proposed it. In a written statement to Congress in 1935, Roosevelt said that any Social Security plans should include, ‘Voluntary contributory annuities, by which individual initiative can increase the annual amounts received in old age,’ adding that government funding, ‘ought to ultimately be supplanted by self-supporting annuity plans.’”

Roosevelt said no such thing. The “voluntary contributory annuities” are the IRA’s and Keoghs and 401k’s. What “ought to ultimately be supplanted” was the special government contributions to Social Security on behalf of people born in the 1870’s and earlier, and the “self-supporting annuity plans” constitute Social Security itself.

[rodeodance]

1. time to mass email smug Brit Hume,----- [e-mail]

[stray cat]

2. Thanks for the address - Great idea.

[Name removed]

3. Deleted message

Message removed by moderator. Click here to review the message board rules.

[babylonsister]

4. So what happens if the markets go belly-up?

Where will your sons be then? On a soup line with the rest of us.
If it's not broke, why fix it at this point in time? Don't you think there are other pressing issues that need to be addressed?

[Name removed]

6. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Name removed]

7. Deleted message

Message removed by moderator. Click here to review the message board rules.

[stray cat]

5. I think 401Ks should be available to all and tax free up to a limit.

However, I believe in this in addition to S.S. Bush's plan is not a 401K and gives little real choice. Bush also has no plan to repeal the social security tax just to cut out the benefits. He needs the S.S. tax to pay for making his tax cuts permanant.

I don't trust Bush's ideas as his goal is to switch expenses for the gov. to middle class Americans.

[rodeodance]

9. you can have your "choice" outside of taking from the SS fund--like

the Congress has at the present!!

[bookman]

10. Choice

Choice is there, but after SS. Social Security is a great foundation to an investor. My retirement is grounded in SS. Then I have the choice to invest beyond that. The real important thing is SS provides a safety net. My parents desperately needed it. I know of seniors who depended on it. If the system wasn't in place I'm sure there would be nothing.

[Misunderestimator]

11. On edit... I see you meant the $11,160 as employer and employee combined

but the employee portion is only $5,450 and the cap in 2004 was $87,900.

That said... so you really want to risk your sons' money when it doesn't have to be risked... you want them to have a choice, instead of a guaranty.

[Tighthead Prop]

8. What else would come from Faux?

They've been Bush's lapdog from the beginning and push right wing bullshit on a minute by minute basis. If you would have been watching Faux for the last four years this is what you would "know": Terrorists crashed planes into the WTC, killing thousands of innocent people despite numerous warnings from our intelligence agencies, but all of that was Bill Clinton's fault. We had a massive depression in which our economy went down for a long time, but that was Bill Clinton's fault too. We overthrew the government in Afghanistan who supported the Taliban and Osama Bin Laden and replaced it in the name of God and the Republican party. We let Osama get away because he really wasn't that important anyway. Sadam Hussein must be overthrown because he has WMD. Even though there are no WMD, Sadam still had them...he did....Iraqi war now war of liberation. Yeah it's not what we went over there for, but the USA telling people how to live by military takeover is a great thing and anybody who disagrees with it is a dissenter and must be told to sit down and shut up like a good American. Also, John Kerry is an anti-american, anti-war, anti-God, anti-gun communist who wants the terroroists to win, so vote for Bush!!!!

[ohtransplant]

12. Done! n/t

[BRLIB]

13. Since Hume refuses to recognize or correct his lie should

we call on the FCC to take action such as revoking FOX's license?


(Not all FOX is cable)