A Quote by Neal Boortz
The main purpose of Social Security is to redistribute wealth, to make an increasingly large number of Americans dependent on government for their basic needs in their retirement years.
Quote Topics
Quote Author
Related Quotes
Social Security is the foundation stone of that kind of retirement security. It not only needs to be strengthened in order to make sure it's there for younger baby boomers and Generations X and Y, but it probably needs to be strengthened and expanded because the retirement benefits now being offered by most employers are not sufficient to support middle-income Americans in their long years of retirement.
On the other end of the spectrum, these women who do live long enough to collect Social Security face the challenge of being disproportionately dependent on the Social Security system for retirement income.
Americans should be able to enjoy a secure retirement after a lifetime of hard work. But too many Americans reach retirement without enough savings to supplement their Social Security benefits.
However, the Administration's plan to privatize Social Security will undermine retirement security for all Americans by cutting guaranteed benefits by more than 40 percent, and risky private accounts won't make up for the loss of benefits for millions of Americans.
Without Social Security benefits, more than 40 percent of Americans 65 years and older would live below the federal poverty line. Even more striking is that Social Security is the only source of retirement income for almost a quarter of elderly beneficiaries.
The President and I agree that Social Security needs to be preserved so that we can ensure that all Americans receive the retirement benefits they've been promised. But we disagree as to how best to fix the system.
President Roosevelt, the author of Social Security, was the first to suggest that, in order to provide for the country's retirement needs, Social Security would need to be supplemented by personal savings accounts.
We need to build on the success of Social Security by developing bold and innovative ways for Americans to build wealth and save for retirement. I believe we can work together in a bipartisan manner to accomplish these goals.
Social Security is the very foundation of retirement security for millions of Americans.
Social Security not only helps Americans enjoy a secure retirement, it has also kept millions of Americans out of poverty.
My financial adviser Ric Edelman...thinks the time to start educating people about money is when they are children. He's set up a retirement plan called the RIC-E-Trust that can provide retirement security. A $5,000 one-time tax-deferred investment at birth, with an average interest rate of ten percent compounded, means that a child would have $2.4 million when he or she is 65 years old. Who needs Social Security with that kind of nest egg?
Let me be clear, the discussions about Social Security are not about the retirement security of those Americans who are 55 or older - the Social Security system for those folks 55 and over will not change in any way shape of form - no ifs, ands, or buts.
Those who want to cut Social Security are prepared to take hostages, manufacture crises, and use scare tactics to undermine the retirement security of Americans.
At their core, Americans all want the same basic things: a quality education for their children, a good job so they can provide for their families, healthcare and affordable prescription drugs, security during retirement, a strongly equipped military and national security.
Bill Clinton is not a hypocrite. If a man believes that it is just and moral to redistribute wealth, there is nothing hypocritical in his attempts to redistribute some of that wealth to himself.
The retirement age needs to be raised. A portion of Social Security ought to be privatized, if not all. And there probably needs to be some means testing. It's a Ponzi scheme that's not sustainable.
Related Authors
Ambrose Bierce Quotes
American
Journalist
Andy Rooney Quotes
American
Journalist
Ann Coulter Quotes
American
Journalist
Anna Quindlen Quotes
American
Journalist
Bill Vaughan Quotes
American
Journalist
Dave Barry Quotes
American
Journalist
Dennis Prager Quotes
American
Journalist
Erma Bombeck Quotes
American
Journalist
Fran Lebowitz Quotes
American
Journalist
George Will Quotes
American
Journalist
Glenn Beck Quotes
American
Journalist
Hunter S. Thompson Quotes
American
Journalist
Mignon McLaughlin Quotes
American
Journalist
Molly Ivins Quotes
American
Journalist
Rachel Maddow Quotes
American
Journalist
Walter Lippmann Quotes
American
Journalist