GOP Rep: Let's Privatize Social Security And Cut Benefits

[NorthCarolina]

Run time: 03:40 https://www.youtube.com/watch?v=qQW0oacbOWg   Posted on YouTube: February 01, 2010 By YouTube Member: Views on YouTube: 0   Posted on DU: February 02, 2010 By DU Member: NorthCarolina Views on DU: 2281

 
In the name of deficit reduction, House Republicans are going back to the Social Security well, offering budget proposals similar to those President George W. Bush proposed after his 2004 re-election that would privatize Social Security accounts and reduce cost of living adjustments.

Rep. Jeb Hensarling (R-TX) appeared on Hardball tonight and advocated balancing the budget by privatizing Social Security and cutting benefits for those now under 55.

"You can get better health care and better retirement security if you go to a defined contribution plan. We had this debate in Social Security a few years ago," Hensarling said:

A "defined contribution plan" means the amount contributed to the plan on the front end is fixed. Social Security and traditional pensions are "defined benefit plans," where the amount paid out on the back-end is fixed according to a formula.

"Are those under 55 ... gonna get the same deal as their parents? No, probably not," he said.

Link to article: http://tpmlivewire.talkingpointsmemo.com/2010/02/rep-hensarling-advocates-cutting-benefits-and-privatizing-social-security.php

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As per my usual luck, I'll be 1 year below the cutoff age.

[Vinnie From Indy]

1. Welcome to the third rail!

While the insanity of the right is hardly shocking anymore, advocating this position after the last few years seems ridiculous. One has to imagine that with so many more Americans in DIRE financial straits that a proposal to cut or drastically modify the last safety net for the elderly and retired is a political loser. It would seem that SS would become even more of a bug zapper for those in Congress that want to reduce or drastically change the program.

[NorthCarolina]

4. What most concerns me about this

is Obama's statement during his talk with House Republicans about coming together to solve problems with entitlement programs. His eagerness to work with the GOP within their "framework" of ideas, the very same capitulation that resulted in a pro-corporate/anti-public Health Care plan, does not give me any warm-and-fuzzies about the future prospects of Social Security.

[Pharaoh]

2. Moron! n/t

[Mari333]

3. forget that! idiot!!

[rocktivity]

5. LEAVE JEB HENSARLING ALONE!!!

:cry: Remember how well that went down when Georgie was in charge? :cry: In fact, the MORE he talked about it, the LOWER public support got! :cry: So I say let him support it if he wants to! :cry: I say, "Go, Jebbie, go, go! RAH RAH RAH!"


rocktivity

But seriously, folks, if Social Security needs more money, lose the salary cap, which would provide the added bonus of http://www.bushinthirtyyears.com/about.html">EVERYBODY'S rate going down.

[vanbean]

20. Bingo! The rallying cry: "Cut the crap... cut the cap!"

They never even bring it up.

[Ganja Ninja]

6. Lets just let all the socialist haters give up their Social Security and Medicare.

They don't want that filthy money anyway and it will leave more for the rest of us.

[StreetKnowledge]

7. Yeah, but do you really think they'd give it up?

No siree bob! They just want to reduce it for other people, not themselves. Other people are suffering? Who cares, I want more for myself! People like this are why I despise Republicans.

[Jim__]

8. Under Reagan we halved taxes on the rich and doubled Social Security taxes.

Now they're saying those weren't really SS taxes, they were really general fund taxes. So, we've halved the taxes on the rich and doubled taxes on the working class.

[JHB]

26. Right. It's not "reform", it's not "cutting entitlements", it's THEFT of what we have PAID FOR.

The whole reason for raising the FICA tax back then was to get ahead of the change in work force demographics as the baby boomers started retiring. (Calculations, we might add, that did NOT factor in a new wave of immigrants improving the workers-to-retirees ratio.)

So repeat it, repeat it, repeat it, every single time this comes up: it's THEFT of what we have already paid for.

[sallyseven]

9. He is a piece of manure

Maybe we should cut Republicans Congressional salary and benefits. Only then would I even listen to the jerks. They already stole from the SS trust fund. They should not be allowed to get on medicare.
They as a group are unfit to make suggestions.

[Jefferson23]

10. They really and truly hate most Americans. n/t

[tsstranger]

11. Cut Benefits?????

This coming from an elitist asshole who will never have to worry about surviving on SS.

[sulphurdunn]

12. Check the bio.

It should come as no surprise that this gentleman thinks entitlement reform is good but banking reform is bad. He was, after all, the state hatchet man for Phil Gramm of the infamous Gramm-Leach-Bliley Act. That gem of a piece of special interest legislation that opened the floodgates of what has become our current economic mess. Of course he would like to open the veins of social security to the same bloated bloodsuckers.

[dotymed]

13. I rec'd this so people would watch it.

What about the corporate and huge agri-business welfare "entitlements?" They are entitled to screw Americans and be subsidized to do it. How about RESTORING the tax structure to pre-Reagan levels. Lets use some common sense. Average Americans are jobless, with out health care, and suffering terribly. The top 5% of Americans own about 90% of the wealth. These types of disparities have always destroyed past civilizations. Of course, unless we change these disparities they will be our downfall also. All of the politicians know this but think that they can maintain the status quo a little longer. As long as we do not fight in this class war, they have nothing to worry about. Every damned American needs to call for another constitutional congress and send people who represent their views to represent them. The status quo would change quickly or the new constitutional congress would determine (through compromise, like the founding fathers did) the next course of action. I say cut the MIC spending (pay the soldiers good salaries too), increase wealth taxes (if you let wealth accumulate in the hands of a few, then the masses are poor), revoke corporate personhood (realistically, we ALL know that a group of individuals, with individual rights, is not a person....just principles that America was founded on....throw out the "to maintain the status quo" line, that has been used for centuries to subjugate the masses.

[NorthCarolina]

25. You can bet there are conservative Dems that would also support

these changes to Social Security. The DLC is not so far removed from the GOP when it comes to public entitlement programs.

[rasputin1952]

14. Good...maybe someday he'll learn not to pee on the "Third Rail"...

while standing, barefoot in a steel bucket filled with water.

His constituents are gonna love him for this...

[dixiegrrrrl]

15. When you hear Pres. Obama talking about that Commission

he plans on forming to "look at " entitlement programs, be aware that is a plan drawn up to
keep Congress people from bearing responsibility for cutting Soc. Sec.
The plan is that the Commission will rubber stamp the killing the program, and make
"recommendations" which will be made into innocuous sounding bills, piecemeal chopping away at
the "entitlement" programs.
This has been discussed for some time on the web. It was a technique raised by the Republicans.


It will be important to follow the information about
this "Commission".

[winyanstaz]

16. I have a better idea....

Let's cut YOUR pay and healthcare benifits Jeb and save the taxpayers a fortune :)

[TatonkaJames]

17. Yeah, that's just what I want...

The same group of traitors who left so many Americans without their pensions and
retirement savings to have control of the entire country's retirement account.
Where's that bridge when you want to buy it ? Freaking idiots, all of them.

[Hulk]

18. What a worthless weasel....

God, what a slime bucket. I'm beginning to think this is all they put out in Texas. Pathetic, slippery, deceptive piece of worthless trash.

[Metta]

19. He's a dispicable mutherfucker. Try living on $600 a month, Jeff.

Happy karma to you.

[vanbean]

21. "defined contribution plan" means they can steal it.

[LongTomH]

22. We already have homeless Senior Citizens!

And Senior Citizens are among the people lining up at food banks! Social Security was intended to keep seniors from ending up destitute in old age if they lost pensions or savings. Now, people on Social Security are often destitute.

[spicegal]

23. Wow, after what just happened to the stock market?!? What genius idea.

These Repukes are just completely without shame.

[Vermontgrown]

24. What would be the right thing

to do is to cut benefits to the stupid redneck repukes and democrats. The senate, congress, and any official that makes hundreds of thousands a year, need their benefits either cut or completely dropped altogether. You can't tell me that these people, who are obviously millionaires need this, asthey call it, social help from the public. Cut their God damn benefits that would save all we need to safe. You don't see those assholes making that kind of sacrifice.