LYCOS RETRIEVER 
Social Security Administration: Bush Administration
built 626 days ago
It's no secret that the Bush Administration has enlisted the services of the Social Security Administration to promote its political agenda. The recent report of the Social Security trustees continues the trend, and the President of the American Federation of Government Employees (AFGE) responded to the report in a recent press release:
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* Under Bush's proposal, if this same person chooses to participate in the privatized system, 16% of their Social Security taxes will go into a personal account. If this money earns 5% above the rate of inflation, when he or she turns 67 years old in 2045, they will have saved $100,000. [192]
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New Doubts On Plan For Social Security; Republican calls Bush's SS plan a "dead horse". Or, is that what Bush will put in your bed if you don't support him? Just asking. 1/20
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One of the hottest topics, (or should be a hot topic) is the cap on Social Security. CNN has this to say about the cap, "Under the current system, payroll taxes are paid only on the first $90,000 in wages. Bush has repeatedly said that he opposes raising taxes, but his advisers have been intentionally vague about whether he would ... rule out subjecting a greater share of pay to the existing tax.
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Media reports from the Washington Post and other distinguished publications have recently reported that Social Security reform remains one of the "big items" the president wants to tackle next year. In his first speech after taking office in August of this year, Treasury Secretary Henry Paulson, a former Wall Street insider, said he was under orders from Bush to pursue Social Security reform.
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One barbed line making the political rounds addresses the administration's plan to pay for its proposed reform of the nation's public retirement system by cutting future benefits: "President Bush's reform means taking the security out of Social Security." One corollary of the proposed Social Security overhaul seems to read: "Remember, we're all in this alone."
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