AARP supports Dem position on Social Security - no carve out priv accts

[papau]

AARP caves on Social Security Private Acoounts - must be in addition to current guaranteed Social Security program. Will not support "reform" that uses private accounts blue smoke and mirrors to cover a reduction in benefits that is used by Bush to avoid paying back the Social Security payroll tax surplus that is current being converted to SS Trust fund bonds as the actual cash is used to finance the Bush tax cut for the rich. That surplus pay back would occur when the SS system redeemed the bond for cash, and the Treasury would need to get that extra cash by either having passed an increase in the FIT tax rate on the rich, or by asking the capital markets to lend yet more money to the National Debt account - risking higher interest rates.

This is one heck of an issue to beat Bush over the head with - and AARP help should be available - unless the CEO of the AARP lies in letters to the editor.


http://www.boston.com/news/globe/editorial_opinion/letters/articles/2003/12/12/why_aarp_supported_medicare_bill/

In the above Letter to the editor in the Boston Globe, the AARP has caved, and announced that it will NOT support the Bush Social Security "reform" of installing "private accounts", in conjuction with lower SS guaranteed Benefits, which would thereby end the need for the rich to repay (via higher FIT rates beginning in 2017 that would obtain the cash needed to redeem the bonds in the SS Trust Fund)) the Social Security payroll tax surplus that is currently financing the Bush tax cut for the rich.

Ahgain, This is major news. Bush has been all over the media saying that he would use the 04 election to get a mandate for his "private accounts" "reform" of Social Security, and the AARP's WILLIAM D. NOVELLI, Chief executive officer, AARP, has just told Bush to go to hell - the AARP will not support that "reform".

Indeed the only "private accounts" that the AARP will support, per the letter, is the Clinton private account plan that was an addition to the current system.

+==================+++++++++=====++++++++==

The Letter to the Editor is called

"Why the AARP supported Medicare bill" 12/12/2003

IN RESPONSE to "AARP backing of drug bill takes toll on reputation" by Stephen Glain (Page A1, Dec. 8), AARP supported the Medicare prescription drug legislation for one reason alone: <snip>

While Glain's article is fraught with misinformation about our support for this legislation, we take particular exception to his statement regarding Social Security. AARP is opposed to any efforts to use Social Security funds to establish individual accounts. Older Americans count on Social Security's rock-solid, guaranteed benefits, and we will continue the fight to build, strengthen, and protect those benefits.

We strongly encourage people to save money for retirement and have nothing against individual accounts so long as they are in addition to Social Security, not carved out from it. Today, one out of three older Americans relies on Social Security as his or her only source of income, and carving out a portion of it for private accounts could be devastating.<snip>

WILLIAM D. NOVELLI
Chief executive officer
AARP
Washington

[Romulus]

1. Gee

I didn't hear any of that during those AARP radio ads in support of the POS bill.

I guess I "wasn't listening hard enough." :eyes:

[papau]

2. I agree - the ad buy was "We're right about Drugs" - but this LTTE

is huge!

Now will the AARP put money behind it - or was this just bull shit to fight the flood that the Boston Globe article unleashed?

??????

:-)