Thompson Unveils Social Security Plan

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

(CBS)  By CBS News' John Bentley

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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.