Thompson Unveils Social Security Plan

Republican's Proposal Would Create Savings Accounts, Index Benefits To Inflation

(CBS)  By CBS News' John Bentley

---

Republican presidential candidate Fred Thompson outlined Friday a plan to overhaul Social Security that he says would keep the program solvent, but, studies say, could also significantly lower benefits relative to the current system.

Thompson is the first of the major candidates to outline a plan for preserving the entitlement program, which he says will go bankrupt by 2041 if no changes are made. “The ugly truth is that we’re going to lose it as we know it if we don’t do something about it,” Thompson said. “Our current path is unsustainable.”

Under his plan, which the former senator unveiled in Washington, workers would be able to contribute two percent of pre-tax income into a personal savings account, with contributions matched by the government - a proposal not unlike that put forward by President Bush early in his second term that failed to gain traction in Congress.

Benefits under Thompson's plan would be indexed to inflation, not wages as they are now. Because inflation rises at a smaller rate than wages, the practical effect of this change would be a reduction in benefits when compared to the current system - a difference of nearly 50 percent, according to some studies.

“It’s idealistic and does not have a huge political upside,” Thompson said. “But we need avoid pitting one generation against each other.”

However, the plan would preserve benefits for those over 57 years old, a move that could make the proposal more acceptable to elderly Americans, who tend to vote in large numbers.

While admitting his plan would cut benefits to future retirees, Thompson said he believes it is better to solve the Social Security problem now than waiting until the system collapses. “Personal retirement accounts and economic growth cannot solve this problem, even though my opponents say it can,” he said.

[nextprophet]

THEY DON''T CALL HIM "DOCTOR NO" FOR NO REASON
Congressman, Paul never votes for any Bill which he feels is not authorized by The Constitution, regardless of what it might be named. He feels most Laws should be made at the local or State level: the way our Founders intended. We are a Republic, and we have plenty of State lawmakers who are more than willing to make Laws which best serve their constituents. "Ron Paul is one of the easiest people in Congress to work with, because he bases his positions on the merits of issues," says Barney Frank, who has worked with Paul on efforts to ease the regulation of gambling and medical marijuana. "He is independent, but not ornery." Paul has made a habit of objecting to things that no one else objects to. In 2001, he was one of only three House Republicans to vote against the USA Patriot Act. He was the sole House member of either party to vote against the Financial Antiterrorism Act. In 1999, he was the only naysayer in a vote in favor of casting a medal to honor Rosa Parks. Nothing against Rosa Parks. Paul also voted against similar medals for Reagan and Pope John Paul II. He did, however, offer $100 of his own money to help pay for Reagan''s medal, and invited others in Congress to match his offer, but not one Member took him-up on it. Instead, Congress spent YOUR money. He not only routinely opposes resolutions that are unconstitutional, he votes against Bills which presume to advise foreign governments how to run their affairs.

[nextprophet]

RON PAUL IS NOT YOUR FATHER''S REPUBLICAN
Ron Paul represents a different Republican Party from the one that Iraq, deficits and corruption have soured the country on. It''s ironic that other GOP candidates are scared to death of his message, because his positions are more conservative than theirs. Being anti-war; pro-life; pro civil liberties; pro Second Amendment; pro States rights; pro secure borders; and in favor of a sound economics policy IS TOTALLY CONSERVATIVE. The Republican party has "lost its way," Paul said during a recent GOP debate. Like the limited federal government principles espoused by Dwight D. Eisenhower, his school of Republicanism stands for a certain idea of The Constitution that much of the power asserted by modern Presidents has been usurped from Congress, and that much of the power asserted by Congress has been usurped from the States. Though Paul acknowledges flaws in both The Constitution (it included slavery) and The Bill of Rights (it doesn''t go far enough), he still thinks a comprehensive array of positions can be drawn therefrom: against gun control; for the sovereignty of States; and against foreign-policy adventures like the ones currently being played-out in the Mid-East. After ten terms of service as a U.S. Congressman, Ron Paul has demonstrated a consistent track record of adherance to The Constitution unmatched by anyone in either party. Ron Paul does not represent your Father''s school of political thought. He represents your Founding Fathers.

[nextprophet]

HOPE FOR AMERICA: PRESIDENT RON PAUL

-- No more meddling in other country''s political affairs
-- No more aggressive military actions overseas
-- No more torture prisons
-- No more pseudo-wars like the "War on Drugs"
-- No more IRS and unconstitutional income taxes
-- No more Federal Reserve (the group of private banks which owns our government)
-- No more erosion of Social Security to pay for militarization
-- No more U.N. (one world government) participation
-- No more NAFTA, CAFTA, WTO or GATT
-- No more North American Union
-- No more federal gun control laws
-- No more illegal aliens pouring-in over our country''s borders
-- No more illegal aliens allowed to roam freely in our streets
-- No more national ID cards (Real ID Act)
-- No more government invasion of your privacy
-- No more federal Laws which are not authorized by The Constitution
-- No more federal erosion of State sovereignty
-- No more unlimited federal government

They don''t call him "Dr. No" for no reason. The Doctor is in! Join us in this 21st Century political revolution at ronpaul2008.com

"Liberty, when it takes root, is a plant of rapid growth."
- George Washington

"Those who expect to reap the blessing of freedom must...undergo the fatigue of supporting it."
- Thomas Paine

"Ron Paul doesn''t represent your Father''s school of political thought. He represents your Founding Fathers."
- Me

[katg21]

Every stinking crisis in this country and you people want to point to the DEMOCRATS!!!????
Posted by RowdyTexan2

Lyndon Johnson and the dem. controlled congress took social securiy from the independent "trust fund" and put it in the general fund so that congress could spend it. That''s when social security went to hell. Al Gore cast the tie breaking vote, as pres. of the senate, which started the taxing of social security annuities. Jimmy Carter and the Dem controlled congress decided to start giving annuity payments to immigrants. There''s only the DEMS to point to for the stinking crisis with social security.

[nextprophet]

RON PAUL WILL PRESERVE SOCIAL SECURITY
Our nation''s promise to its seniors, once considered a sacred trust, has become little more than a tool for politicians to scare retirees while robbing them of their promised benefits to pay for militarization. Today, the Social Security system is both broke and broken. Those in the system are seeing their benefits dwindle due to higher taxes, increasing inflation, and irresponsible military spending. The proposed solutions, ranging from lower benefits to higher taxes to increasing the age of eligibility, are NOT solutions; they are betrayals. Imposing any tax on Social Security benefits is unfair and illogical. In Congress, Dr. Paul introduced the Senior Citizens Tax Elimination Act, which repeals ALL taxes on Social Security benefits, to eliminate political theft of our seniors'' income and raise their standard of living. Solvency is the key to keeping our promise to our seniors, and he introduced the Social Security Preservation Act (H.R. 219) to ensure that money paid into the system is ONLY used for Social Security. Also, it is fundamentally unfair to give benefits to anyone who has not paid into the system. The Social Security for Americans Only Act, which Ron Paul supported, ends the drain on Social Security caused by illegal aliens seeking the fruits of your labor. In short, if we stop our runaway military spending overseas and there will be plenty of money available to keep Social Security solvent for decades to come.

[nextprophet]

HOPE FOR AMERICA: PRESIDENT RON PAUL

-- No more meddling in other country''s political affairs
-- No more aggressive military actions overseas
-- No more torture prisons
-- No more pseudo-wars like the "War on Drugs"
-- No more IRS and unconstitutional income taxes
-- No more Federal Reserve (the group of private banks which owns our government)
-- No more erosion of Social Security to pay for militarization
-- No more U.N. (one world government) participation
-- No more NAFTA, CAFTA, WTO or GATT
-- No more North American Union
-- No more federal gun control laws
-- No more illegal aliens pouring-in over our country''s borders
-- No more illegal aliens allowed to roam freely in our streets
-- No more government invasion of your privacy
-- No more federal Laws which are not authorized by The Constitution
-- No more federal erosion of State sovereignty
-- No more unlimited federal government

They don''t call him "Dr. No" for no reason. The Doctor is in! Join us in this 21st Century political revolution at ronpaul2008.com

"Liberty, when it takes root, is a plant of rapid growth."
- George Washington

"Those who expect to reap the blessing of freedom must...undergo the fatigue of supporting it."
- Thomas Paine

"Ron Paul doesn''t represent your Father''s school of political thought. He represents your Founding Fathers."
- Me

[rowdytexan2]

And don''t let the fricking republicans sell this country into privatizing your social security account. "That''s like the person who robbed your house knocking on your front door wanting to be your banker!"

They''re talking about putting your retirement into treasury bonds which won''t be worth a tinker''s *** once the republicans get through with it!

[rowdytexan2]

Well here we go again! The dems are the ones who screwed up SS in the first place and now they''''re the first to *** when someone has an idea on how to fix it.
Posted by katg21 at 04:52 PM : Nov 11, 2007

You''ve got to be KIDDING! The attack on the social security program was initiated in Reaganomics! It was part of ''tricle down'' (snort)! Read something once in awhile!

Everyone''s crying about the baby boomers hitting retirement age and will be asking for ALL THAT MONEY that they put into it! Well, folks, Mr. Bush has spent $670 billion of it! I don''t see democrat tattooed across his forehead! And it''s going to run out in 2017 after the baby boomers who already paid into it all their lives stop working and expect to draw it. So guess what, they''re going to be further screwed because their benefits will be shucked down 50%.

Not only have the republicans bankrupted this country by hocking it to China for this war, they''ve raped us of our social security.



You need to be reminded that the Democrats have not had control of Congress but a few months for the last 15 years!

Every stinking crisis in this country and you people want to point to the DEMOCRATS!!!????

[trueprophet]

RON PAUL''S STYLE OF CONSERVATISM IS NOT NEW
Ron Paul''s message is not new. You could have heard it in 1964 or 1975 or 1991 at the conclaves of those conservatives who were considered outside the mainstream of the Republican Party. Back then, most Republicans appeared reconciled to a strong federal government, if only to do the expensive job of defending the country against Communism. But when the Berlin Wall fell, the dormant institutions and ideologies of pre-cold-war conservatism began to stir. In his 1992 and 1996 campaigns, Pat Buchanan, who calls Ron Paul one of the Republicans he "most admires," was the first politician to express and exploit this change, breathing life into the motto "America First" (if not the organization of that name, which opposed entry into World War II). Like Buchanan, Paul draws on forgotten traditions. His top aides are unimpeachably Republican but stand at a distance from the party as it has evolved over the decades. His chief of staff, Tom Lizardo, worked for Pat Robertson, and Bill Miller Jr. is the son of Barry Goldwater''s vice-presidential nominee. His national campaign organizer, Lew Moore, worked for the late Congressman Jack Metcalf of Washington State, who was another Goldwaterite. At the grass roots, Paul''s New Hampshire primary campaign stresses gun rights and relies on anti-abortion and tax activists from the organizations of Buchanan and the state''s former Senator, Bob Smith.

[trueprophet]

RON PAUL IS THE NEW WAY
What we need is a President who will show us the way. Not the old way. Not the same way, but a NEW way. Think about this for a minute. What if we pulled all of our troops out of South Korea? They''ve been there for 50+ years. What if we quit worrying about Iran, but instead, realized that its having a nuclear weapon will not mean the end of the world? What if we pulled all of our troops out of the Middle-East, and brought them all home? What if we realistically addressed the National Debt, and paid attention to REALLY DOING SOMETHING about stopping illegal immigration? These are the ideas of Presidential candidate, Ron Paul. He''s a ten term Congressman and a physician who has delivered over 4,000 babies. He''s an intellectual who''s published four books, three of which are devoted entirely to sound economics and one to foreign policy. He was raised on a dairy farm in Pennsylvania as a pious Lutheran, but now he attends a Baptist church. Paul is given to mulling things over morally. Whenever he recollects the helicopter pilots he treated as an Air Force Flight Surgeon (Captain) during the Vietnam War, a war which he now says was "totally unnecessary and illegal," he laments, "They were gung-ho. I''ve often thought about how many of those people never came back." Candidates with the high level of personal integrity and proven track record of adherence to The Constitution, Congressman Paul has always demonstrated only come around once in a lifetime, if we''re lucky.

[trueprophet]

RON PAUL WILL PRESERVE SOCIAL SECURITY
I agree with Dr. Paul on the Social Security issue. Our nation''s promise to its seniors, once considered a sacred trust, has become little more than a tool for politicians to scare retirees while robbing them of their promised benefits to pay for militarization. Today, the Social Security system is both broke and broken. Those in the system are seeing their benefits dwindle due to higher taxes, increasing inflation, and irresponsible military spending. The proposed solutions, ranging from lower benefits to higher taxes to increasing the age of eligibility, are NOT solutions; they are betrayals. Imposing any tax on Social Security benefits is unfair and illogical. In Congress, Dr. Paul introduced the Senior Citizens Tax Elimination Act (H.R. 191), which repeals ALL taxes on Social Security benefits, to eliminate political theft of our seniors'' income and raise their standard of living. Solvency is the key to keeping our promise to our seniors, and he introduced the Social Security Preservation Act (H.R. 219) to ensure that money paid into the system is ONLY used for Social Security. Also, it is fundamentally unfair to give benefits to anyone who has not paid into the system. The Social Security for Americans Only Act (H.R. 190), which Ron Paul supported, ends the drain on Social Security caused by illegal aliens seeking the fruits of your labor. We must also address the widespread desire of younger workers to save for retirement on their own.

[trueprophet]

RON PAUL TAKES ON FEDERAL RESERVE CHAIRMAN
Federal Reserve Chairman Ben Bernanke appeared before the Congressional Joint Economic Committee Member, Congressman Ron Paul on November 8th, and had to face some tough criticism concerning the fact that the Fed has been increasing the money supply while at the same time refusing to raise the Prime Interest Rate in order to curb inflation and devaluation of the Dollar. Paul accused the Federal Reserve of "robbery," telling Bernanke, "There''s a dollar crisis out there and people''s money is being stolen," Paul said. "People who have saved, they''re being robbed. I mean, if you have a devaluation of the dollar at 10 percent, people have been robbed of 10 percent." Federal Reserve Chairman Ben Bernanke attempted to dispel that notion by explaining, "If somebody has their wealth in dollars and they''re going to buy consumer goods in dollars, then the only effect it has on their buying power is that it makes imported goods more expensive." Paul disagreed, reminding Bernanke, "Yeah, but not if you''re elderly and you have your wealth in CDs. Their cost of living is going-up no matter what your CPI says," adding finally, "Their cost of living is going up, and they''re hurting. And that''s why the people of this country are very upset."

[trueprophet]

RON PAUL IS THE TAXPAYER''S BEST FRIEND
If he is elected President, Ron Paul will work to abolish the Federal Reserve System as well as the IRS, returning our country to the Gold Standard. He believes, as I do, that our current Income Tax System is unconstitutional, because it is a direct tax that is not equally apportioned as The Constitution requires. Whenever taxes are raised by the federal government, it should be done as The Constitution does require--in an indirect way, which is equally apportioned. This system would benefit all of us, creating more individual wealth, and allowing us to make more decisions for ourselves about our lives. As President, Ron Paul will also work to abolish the Federal Reserve, a group of private banks, run by unelected officials, which loans our government unbacked money which they are allowed to essentially print out of thin air, making each dollar in your pocket worth less all the time, and increasing our national debt to these banks. Worse still. Most of our debt is owned by China (25%) and Saudi Arabia who finance our runaway military spending overseas. This is a threat to our nation. We need to bring our troops home from overseas, and use the trillions we would save thereby to reduce our debt, and to re-invigorate our currency. We can use this money to ensure that Social Security and other essential programs will still be solvent in the future. Vote for Ron Paul. He''s published three books on the topic of sound economics. ronpaullibrary.org

[trueprophet]

RON PAUL: A GUN OWNER''S BEST FRIEND
Like Ron Paul, I share our Founders'' belief that in a free society each citizen must have the right to keep and bear arms. They ratified the Second Amendment knowing that this right is the guardian of every other right, and they all would be horrified by the proliferation of unconstitutional legislation that prevents Law-abiding Americans from exercising this right. Congressman, Paul has always supported the Second Amendment and these are some of the Bills he introduced in the current Congress to help restore respect for it: H.R. 1096 includes provisions repealing the Brady Handgun Violence Prevention Act and the Federal Firearms License Reform Act, two invasive and unconstitutional Bills. H.R. 1897 would end the ban on carrying a firearm in the National Park System, restoring Americans'' ability to protect themselves in potentially hazardous situations. H.R. 3305 would allow pilots and specially assigned personnel to carry firearms in order to protect airline passengers, possibly preventing future 9/11-style attacks. H.R. 1146 would end our membership in the United Nations, protecting us from their attempts to tax our guns or disarm us entirely. In the past, he introduced legislation to repeal the so-called assault weapons ban before its 2004 sunset, and he has opposed all attempts to reinstate it. Congessman, Paul also recently opposed H.R. 2640, which would allow government-appointed psychiatrists to ban veterans experiencing any form of PTSD.

[trueprophet]

RON PAUL FIGHTS FOR THE RIGHT TO LIFE
Unlike Clinton and the so-called GOP frontrunner, Giuliani, Dr. Paul fights for the right of an innocent, unborn child. He believes the right to life is at the heart of the American ideals of liberty. His professional and legislative record demonstrates his strong commitment to this pro-life principle. In 40 years of medical practice, he never once considered performing an abortion, nor did he ever find abortion necessary to save the life of a pregnant woman. In Congress, he authored legislation that seeks to define life as beginning at conception (HR 1094). He is also the prime sponsor of HR 300, which would negate the effect of Roe v Wade by removing the ability of federal courts to interfere with state legislation to protect life. This is a practical, direct approach to ending federal court tyranny which threatens our constitutional republic and has caused the deaths of 45 million of the unborn. He also authored HR 1095, which prevents federal funds to be used for population control. Many other GOP candidates, except Giuliani, talk about being pro-life. Ron Paul took direct action to restore protection for the unborn. As an OB/GYN doctor, he delivered over 4,000 babies. That experience made him an unshakable foe of abortion. Many of you may have his book, Challenge To Liberty, which champions the idea that there cannot be liberty in a society unless the rights of all innocents are protected. Ron Paul respects the dignity of human life.

[trueprophet]

RON PAUL KNOWS HOW TO STOP ILLEGAL IMMIGRATION
The talk must stop. We must secure our borders now. A nation without secure borders is no nation at all. It makes no sense to fight terrorists abroad when our own front door is left unlocked. Ron Paul has a plan: (1.) Physically secure our borders and coastlines. We must do whatever it takes to control entry into our country before we undertake complicated immigration reform proposals. (2.) Enforce Visa rules. Immigration officials must track Visa holders and deport anyone who overstays their Visa or otherwise violates U.S. Law. This is especially important when we recall that a number of 9/11 terrorists had expired Visas. (3.) No amnesty. Estimates suggest that 10 to 20 million people are in our country illegally. That''s a lot of people to reward for breaking our Laws. (4.) No welfare for illegal aliens. Americans have welcomed immigrants who seek opportunity, work hard, and play by the rules, but taxpayers should not pay for illegal immigrants who use hospitals, clinics, schools, roads, and social services. (5.) End birthright citizenship. As long as illegal immigrants know their children born here will be citizens, the incentive to enter the U.S. illegally will remain strong. (6.) Pass true immigration reform. The current system, and those proposed by ALL other candidates, is incoherent and unfair, and would allow up to 60 million more immigrants into our country.

[trueprophet]

WE ARE ALL SLAVES
I can''t help but laugh when I see some of these ridiculous posts by these racial provocateurs in here who try to point their dirty fingers at Ron Paul, when he doesn''t have a racist bone in his body. He''s not only a well-known Libertarian idealist who supports more civil rights and liberties for everyone, he''s also a devout Christian who reads his Bible everyday and believes, as I do, that all people on this Earth were created equal in the eyes of God. We all need to stand together, united as brothers and sisters in a common cause to achieve REAL FREEDOM FOR EVERYONE. Currently, we all live under a thumb of control which is pressed-down onto us by a tiny, elite group of oligarchs who really control the world in which we live. Whether you''re a black, white, brown and red, it makes no difference. We are all slaves to the elite. Also, I find it truly ironic how you brainwashed socialists could claim the nonsense you do about Ron Paul when your hero, Hillary Clinton, is the consummate elitist. She''s a Bilderberger, for Pete''s sake. The Bilderbergers are a tiny group of about 120 people (mostly royalty, heads of industry and major political figures) who meet in secret each year at different locations around the world in order to orchestrate public policy worldwide. Their agenda: continued economic and political domination; one world government; and a drastic reduction in the worldwide population of certain racial and genetic groups (eugenics). That''s irony!

[trueprophet]

RON PAUL IS NOT YOUR FATHER''S REPUBLICAN
Ron Paul represents a different Republican Party from the one that Iraq, deficits and corruption have soured the country on. It''s ironic that other GOP candidates are scared to death of his message, because his positions are more conservative than theirs. Being anti-war; pro-life; pro civil liberties; pro Second Amendment; pro States rights; pro secure borders; and in favor of a sound economics policy IS TOTALLY CONSERVATIVE. The Republican party has "lost its way," Paul said during a recent GOP debate. Like the limited federal government principles espoused by Dwight D. Eisenhower, his school of Republicanism stands for a certain idea of The Constitution that much of the power asserted by modern Presidents has been usurped from Congress, and that much of the power asserted by Congress has been usurped from the States. Though Paul acknowledges flaws in both The Constitution (it included slavery) and The Bill of Rights (it doesn''t go far enough), he still thinks a comprehensive array of positions can be drawn therefrom: against gun control; for the sovereignty of States; and against foreign-policy adventures like the ones currently being played-out in the Mid-East. After ten terms of service as a U.S. Congressman, Ron Paul has demonstrated a consistent track record of adherance to The Constitution unmatched by anyone in either party. Ron Paul does not represent your Father''s school of political thought. He represents your Founding Fathers.

[finewoven]

. . .whether we should continue moving along our current path towards an all powerful one world government.
Posted by TrueProphet at 06:07 PM : Nov 11, 2007

I think if you were really cognizant of the world political situation, one not piped into your head through existing media giants (like CBS), you''d be alarmed to determine that really, the only "all powerful one world government" would be China. No other country has such a large military budget, can prevent other countries from investing in their stocks, prevents land ownership from outside their country, and manipulates their currency exchange rate. Do you think our valuation of the dollar is now at their mercy?

[candide777]

Ron Pau''s Real Agenda:

1) Outlaw abortion
2) Reinstate segregation
3) A gun in every home
4) Disable the federal government by eliminating federal income tax

I wonder why his militia movement supporters don''t want to talk about his committment to these issues?