Patterson: Alternative to Social Security a huge success
Tom Patterson
East Valley resident Tom Patterson (pattersontomc@cox.net) is a retired physician and former state senator.
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Rodini posted at 7:34 am on Sat, Oct 29, 2011.
Totally out of touch and wrong as always Tom.
You once again ignore the fact that the Wall Street thieves are most likely working up another scheme at this very moment, to try and avoid regulations, so they can whip up another opportunity to speculate and gamble away the carefully invested money and often the life savings of ordinary Americans.
And they are pumping millions into their lobbying efforts to buy more Republican and sadly even some Democratic Congresspersons to make sure they remain UN-REGULATED and free to steal from the majority!
DAH, have you totally forgotten so quickly that billions and trillions of dollars of American savers and the savings of countless others across the globe were wiped out and gone forever just a short three or four years ago?
Get a clue Tom...the money invested in Social Security is the safest investment in the world and done so with the lowest overhead costs and has provided and still provides the majority income for the vast majority of senior citizens, especially those who didn't earn in excess of $100,000/ yr as you and your DR. friends did for many years!
You are wrong again, just as most of your thinking is Tom.
Thankfully your thinking and the thinking of all Tea Party conservatives is in the minority and the Occupy Wall Street movement is going to sooner or later wake up more and more Americans to the right way to do things again...just as they worked so successfully for thirty years until Reagan conned the masses into believing in the fallacy of 'trickle down' economics. Excuse me, I meant VOODOO economics!
Best to you again and sorry you didn't want to continue our e-mail exchanges as I'd hoped, so I could point out the truths you too often conveniently ignore!
Accuracy posted at 7:48 am on Sat, Oct 29, 2011.
Tom Patterson,wrote: "To this day, all private sector workers are still forced into Social Security. Unfortunately, by clinging to the status quo, we have made reform more difficult."
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As a result many well-off and wealthy individuals are also required to take their Social Security payments at age 70 1/2 whether they need the money or not.
That includes U.S. Senator John McCain, Arizona (R) and U.S. Senator Jay Rockefeller, West Virginia (D), who are also receiving Social Security benefits.
Rodini posted at 7:54 am on Sat, Oct 29, 2011.
And Tom, just for giggles, let's reflect on the news generated by the recent CBO report which SHOOTS HOLES through the conservative argument you guys have tried so hard to sell us for years, that cutting taxes for the rich with trickle down.
You conservatives keep repeating over and over that a "rising sea will float all boats."
But sadly, the evidence is in and it's proves what a lie you've been selling to the American people.
Over the past 30 years your upper class has seen their incomes rise by 275% while the shrinking middle class saw a meager 40% rise in median family incomes (note please: that this figure now usually includes two working incomes compared to only one income back in the 60's and 70's, so to be fair, it does not accurately state the real stagnation of incomes for the 99%) and the poor have only seen their incomes grow by a mere 18% which is most likely a net loss after inflation is factored in!
Please stop trying to sell the majority your conservative folly.
Try explaining the truth, that our economy is geared to lift the top 10% and the rest of us are simply being given the SHAFT!
Rich posted at 8:00 am on Sat, Oct 29, 2011.
What needs to be done is that the government workers who've been stiffing the rest of us on SS for years need to be rolled back into the system. Not as bad as Argentina (one of the world's few stable economies right now) where Tom's private pension would go too, but at least the government workers, all they had to invest was the money taken from the rest of us in the first place
mnjcpa posted at 1:21 pm on Sat, Oct 29, 2011.
Tom - Couldn't have detailed the issue out any better. I'm sure you've learned to ignore the ignorant. They wouldn't know how to manage wealth if they had to.
Suelee posted at 2:48 pm on Sat, Oct 29, 2011.
How is this Alternative Retirement Plan funded? If it is through the stock and bond market then it has all the pitfalls of 401Ks. My husband lost 50% of the value of his 401K just as he retired due to a crash of the stock market at the most inopportune moment. He was lucky to frugally stretch what was left until he was eligible for his social security. The timing of his "retirement" was dictated by his employe'rs massive downsizing at time when older workers are essentially unemployable.
samkat posted at 6:41 pm on Sun, Oct 30, 2011.
rich: You are sour grapes. Civil servants are in the social security system and a major part of their retirement is their government 401k plan. Where do you get your misguided information? If you feel that government workers have such a good deal, you can always apply for one of those cushy jobs yourself.
Tom: Since the stock market went flat on 2000/2001 many retirees have seen their life's savings go down the toilet. My CDs and savings accounts are paying somewhere around .1%. My IRAs are paying something on the order of 1.7%. My money market accounts are faring poorly as well. Now, if I live long enough, I may recoup some of my losses.
You mentioned the three government entities in Texas that went private. the last I read a few months ago, they were not doing so hot so that busts your argument for privatizing social security. The Chile retirement system has also dropped like a rock since the financial market tanked so other than your personal financial position being rock solid, the rest of us ordinary stiffs are doing rather poorly.
Rational Human posted at 1:04 pm on Wed, Nov 2, 2011.
Hey Rodini, don't you have a Occupy Wall Street rally to attend? I heard they were missing one of their clowns.