Republicans Are, And Have Been, Attacking Social Security

Republicans have a long history of wanting to get rid of Social Security, since it's inception.

October 25 2022
It began as Congress was debating the Social Security Act of 1935. Republicans attacked the program with rhetoric as extreme as that of today’s right. Rep. James W. Wadsworth (R-NY), for example, said the bill would create “a power so vast, so powerful as to threaten the integrity of our institutions and to pull the pillars of the temple down upon the heads of our descendants.” Republican Daniel Reed of New York said, “The lash of the dictator will be felt.”

That “visceral and abiding dislike” remained. The GOP’s 1936 presidential candidate, Alf Landon, derided Social Security as “a fraud on the workingman” and “a cruel hoax.” The party’s 1940 presidential candidate, Wendell Willkie, warned voters that “you will never collect a dollar of your Social Security.”
The 1944 Republican Party platform attempted to paper over the party’s true feelings with language supporting many aspects of the New Deal, including Social Security, although the same platform “reject[ed] the theory of restoring prosperity through government spending and deficit financing.”

The GOP held its fire for the most part during the Eisenhower years, and its 1956 and 1960 platforms even boasted of adding people to Social Security’s rolls. But the party’s 1964 candidate, Barry Goldwater, had lumped social insurance programs like Social Security and Medicare into a phenomenon he called “Welfarism.”

Goldwater’s 1960 book, The Conscience of a Conservative, said these programs would give “unlimited political and economic power … as absolute … as any oriental despot” while turning each recipient “into a dependent animal creature.” Goldwater said programs like Social Security would erode personal freedom “later on—after its beneficiaries have become its victims, after dependence on government has turned into bondage and it is too late to unlock the jail.”

This war on Social Security has at times looked more like a covert operation. As president, Ronald Reagan even signed a compromise Social Security bill into law. But as a candidate in 1976, Reagan followed Goldwater’s lead by advocating partial privatization.

George W. Bush pushed aggressively for partial privatization. Gould, perhaps the country’s pre-eminent historian of the Republican Party, wrote in The Republicans that “a desire to remake Social Security was one of the few consistent policy priorities of … Bush’s public career.”

Bush’s attempt failed, partly because of what Gould describes as Bush’s “hyperpartisan” approach. It was also deeply unpopular. “The more the president talked about Social Security,” wrote Gould, “the more his poll numbers dropped. By the end of the year the Bush initiative was dead.”
 
My proposal calls for 1% of the Social Security Trust Fund to be invested in US Equities every month for the next 80 months

This way the Fund will garner returns based on the growth US Economy instead of the depreciating US dollar
 
Correct, but that's why the only reasonable solution to this is to make contributions higher if we want these programs. If we want these programs (and most Americans do) they simply have to be funded. That's it.

The question will then be "How to fund it...".

And such a solution has to be politically viable.

Raising the age on existing seniors isn't going to fly. Why? Those 50 and above have the highest percentage of active voters as an age demographic. Such a plan wouldn't pass.

Raising the age for those 50 or below (which is a common theme) does not solve the SS Trust Fund issue that will be here in 2035. If 50 and above are grandfathered, a 50 year old today wouldn't reach the new retirement age (of say 70), until 2044. 10-years PAST the point the SS Trust fund is depleted.

Raising the cap on earnings would generate more short term revenue and extend the SS Trust fund. But would the maximum benefits be raised?

SS has always been funded by "wage" earnings paid 1/2 by the EE and 1/2 by the ER. Implementing a small (1%-5%) on non-wage income such as interest, dividends, capital gains, etc. is another method of raising revenue. But then those incomes (or some percentage of those incomes) that are now subject to SS would, in fairness, need to be counted towards an individuals SS benefit calculation.

And as life has taught me, do nothing is always a possible option. That means (projections are) the SS Trust Fund will be depleted starting in 2035 and that benefit checks will be reduced to 77-80% of promised amounts as the program shifts from using the SS Trust Fund as a - well - "shock absorber" to a model where only benefits funded by current revenue can be paid. That will also not be a solution that the senior voting demographic will take kindly. There will be lot's of finger pointing and back-stabbing in the political realm if that is allowed to happen.

WW
 
Well if we raise the cap then it's only fair we increase the amount those people could collect. Otherwise it would be just another "tax the rich" scheme to solve our problems. And if they paid more and collected more, then it would be a net zero gain.

Raising the age doesn't help either as there are many jobs people barely make it to retirement age now. My father was a bricklayer and had to retire at the age of 62. However his union had a great retirement plan many don't have. My cousin has his own remodeling business. He's struggling to work now in his mid 60's. He just can't do some of those things any longer. His employees have to do the heavy work.

When Commie Care started my employer (like many small businesses) dropped our healthcare coverage. I was in my mid 50's at the time. So I started looking for another company to work for. In spite of my great attendance record, great driving record, I only got one reply, and that was a dud. If you are out of work at an older age, nobody wants to hire you. Sure, we have laws against that, but who wants to hire lawyers, sue companies and try to prove discrimination? I wouldn't want to work for anybody that doesn't want me there anyway.

So raising the retirement age would solve one problem and create several more in it's place. For physically challenging jobs, it would only move them from SS retirement to SS disability. It's not a solution.
1. I'm fine with another "tax the rich" scheme. The amount extra they would pay isn't significant to solve SS solvency.
2. Raising the ages by 1-year does help. From 62 to 63 for early, and 67 to 68 for full extends SS. With 401Ks people can retire before 62 if they can pay for health insurance. As WW said, people collect SS about 4-years more than before.
3. One change I'd like to see for Medicare is to start Medicare at the early retirement age for SS so they don't need to pay for health insurance out of pocket. That would have helped your dad. Your cousin would have had to put money into a 401K, or find a job with good benefits.
4. You didn't put up a solution to SS. At least my solutions would extend it past 2034.
 
The question will then be "How to fund it...".

And such a solution has to be politically viable.

Raising the age on existing seniors isn't going to fly. Why? Those 50 and above have the highest percentage of active voters as an age demographic. Such a plan wouldn't pass.

Raising the age for those 50 or below (which is a common theme) does not solve the SS Trust Fund issue that will be here in 2035. If 50 and above are grandfathered, a 50 year old today wouldn't reach the new retirement age (of say 70), until 2044. 10-years PAST the point the SS Trust fund is depleted.

Raising the cap on earnings would generate more short term revenue and extend the SS Trust fund. But would the maximum benefits be raised?

SS has always been funded by "wage" earnings paid 1/2 by the EE and 1/2 by the ER. Implementing a small (1%-5%) on non-wage income such as interest, dividends, capital gains, etc. is another method of raising revenue. But then those incomes (or some percentage of those incomes) that are now subject to SS would, in fairness, need to be counted towards an individuals SS benefit calculation.

And as life has taught me, do nothing is always a possible option. That means (projections are) the SS Trust Fund will be depleted starting in 2035 and that benefit checks will be reduced to 77-80% of promised amounts as the program shifts from using the SS Trust Fund as a - well - "shock absorber" to a model where only benefits funded by current revenue can be paid. That will also not be a solution that the senior voting demographic will take kindly. There will be lot's of finger pointing and back-stabbing in the political realm if that is allowed to happen.

WW
Raising the cap is the obvious solution. Benefits would NOT be raised.
Democrats would want to remove the cap.
Republicans should agree to raise it and say "its the best we could do".
Raising the ages 1-year based on your 4-years more of benefits should extend SS into the 2050s, when they can "fix" it again if needed.
 
1. I'm fine with another "tax the rich" scheme. The amount extra they would pay isn't significant to solve SS solvency.
2. Raising the ages by 1-year does help. From 62 to 63 for early, and 67 to 68 for full extends SS. With 401Ks people can retire before 62 if they can pay for health insurance. As WW said, people collect SS about 4-years more than before.
3. One change I'd like to see for Medicare is to start Medicare at the early retirement age for SS so they don't need to pay for health insurance out of pocket. That would have helped your dad. Your cousin would have had to put money into a 401K, or find a job with good benefits.
4. You didn't put up a solution to SS. At least my solutions would extend it past 2034.

Yes it would, but as I clearly pointed out, you'd solve one problem and create several more in it's place.

As for myself I'm sick of turning to the wealthy to solve our problems all the time. Why should the wealthy support programs they won't even be able to take advantage of? If we want these programs (and most do) then it's up to us to support them, not the wealthy.
 
Republicans have a long history of wanting to get rid of Social Security, since it's inception.

October 25 2022
It began as Congress was debating the Social Security Act of 1935. Republicans attacked the program with rhetoric as extreme as that of today’s right. Rep. James W. Wadsworth (R-NY), for example, said the bill would create “a power so vast, so powerful as to threaten the integrity of our institutions and to pull the pillars of the temple down upon the heads of our descendants.” Republican Daniel Reed of New York said, “The lash of the dictator will be felt.”

That “visceral and abiding dislike” remained. The GOP’s 1936 presidential candidate, Alf Landon, derided Social Security as “a fraud on the workingman” and “a cruel hoax.” The party’s 1940 presidential candidate, Wendell Willkie, warned voters that “you will never collect a dollar of your Social Security.”
The 1944 Republican Party platform attempted to paper over the party’s true feelings with language supporting many aspects of the New Deal, including Social Security, although the same platform “reject[ed] the theory of restoring prosperity through government spending and deficit financing.”

The GOP held its fire for the most part during the Eisenhower years, and its 1956 and 1960 platforms even boasted of adding people to Social Security’s rolls. But the party’s 1964 candidate, Barry Goldwater, had lumped social insurance programs like Social Security and Medicare into a phenomenon he called “Welfarism.”

Goldwater’s 1960 book, The Conscience of a Conservative, said these programs would give “unlimited political and economic power … as absolute … as any oriental despot” while turning each recipient “into a dependent animal creature.” Goldwater said programs like Social Security would erode personal freedom “later on—after its beneficiaries have become its victims, after dependence on government has turned into bondage and it is too late to unlock the jail.”

This war on Social Security has at times looked more like a covert operation. As president, Ronald Reagan even signed a compromise Social Security bill into law. But as a candidate in 1976, Reagan followed Goldwater’s lead by advocating partial privatization.

George W. Bush pushed aggressively for partial privatization. Gould, perhaps the country’s pre-eminent historian of the Republican Party, wrote in The Republicans that “a desire to remake Social Security was one of the few consistent policy priorities of … Bush’s public career.”

Bush’s attempt failed, partly because of what Gould describes as Bush’s “hyperpartisan” approach. It was also deeply unpopular. “The more the president talked about Social Security,” wrote Gould, “the more his poll numbers dropped. By the end of the year the Bush initiative was dead.”
George Bush, Establishment Republican wanted to give people a choice about putting their money of SS into stocks, which i agree with. I have been invested in the stock market since 1987 and made plenty of money where i dont need SS, but i will take it anyway, because i at least paid into it, while others who never paid into it will get more than i will.
 
Wheeze gunny throw Granny down dem stares!!!!


I had said that the Republicans should have a commercial where a chevy luv pickup truck full of Muslim Terrorists is going through the streets of America shooting children, with the speaker saying "This is what Democrats want for your children". I bet that only the most moronic Dems would vote for their guy.
 
The question will then be "How to fund it...".

And such a solution has to be politically viable.

Raising the age on existing seniors isn't going to fly. Why? Those 50 and above have the highest percentage of active voters as an age demographic. Such a plan wouldn't pass.

Raising the age for those 50 or below (which is a common theme) does not solve the SS Trust Fund issue that will be here in 2035. If 50 and above are grandfathered, a 50 year old today wouldn't reach the new retirement age (of say 70), until 2044. 10-years PAST the point the SS Trust fund is depleted.

Raising the cap on earnings would generate more short term revenue and extend the SS Trust fund. But would the maximum benefits be raised?

SS has always been funded by "wage" earnings paid 1/2 by the EE and 1/2 by the ER. Implementing a small (1%-5%) on non-wage income such as interest, dividends, capital gains, etc. is another method of raising revenue. But then those incomes (or some percentage of those incomes) that are now subject to SS would, in fairness, need to be counted towards an individuals SS benefit calculation.

And as life has taught me, do nothing is always a possible option. That means (projections are) the SS Trust Fund will be depleted starting in 2035 and that benefit checks will be reduced to 77-80% of promised amounts as the program shifts from using the SS Trust Fund as a - well - "shock absorber" to a model where only benefits funded by current revenue can be paid. That will also not be a solution that the senior voting demographic will take kindly. There will be lot's of finger pointing and back-stabbing in the political realm if that is allowed to happen.

WW

As I pointed out, raising the age is not applicable for everybody. Yeah, those people on television stating that is a solution is great for their job. The most physical work they have to do is clip the mic on their lapel. But try carrying a 30 lbs bundle of roof shingles on your shoulder and climb up three stories on a ladder at the age of 68. Good luck with that one.

So the solution is to increase the employee/ employer contributions to the plan. It's 6% now, and it needs to be raised to at least 8%. If the public believes it's too much money for what they get out of it, they are free to demand a change to the system such as more dependency on personal IRAs.
 
Why should the wealthy support programs they won't even be able to take advantage of?

This is an interesting question.

#1 The wealthy do get to take advantage SS based on wage income they have worked over their career.

#2 Studies have shown that wealthy people live longer than poor to middle-income people because wealth provides an advantage to better health care, better wellness profiles, better resources during their working career where they have the ability for better diet, proper exercise, life-styles, and wellness options. In addition to better medical care and life styles in retirement. This translates to about 8-9 years of additional benefits when comparing duration of benefits for poor and wealthy.

So yes, they do get to take advantage of the program and they can (on average) take advantage for longer periods.

Just fyi...

WW

 
Raising the cap is the obvious solution. Benefits would NOT be raised.
Democrats would want to remove the cap.

Raising the cap without raising the benefits is just another tax on the “rich”. Keep in mind, we have been told that “rich” means $400k+/yr. Removing or raising the cap and not the benefits would negatively affect people making 160k+/yr. Keep in mind, that even as it stands to today, those who have been making the most and paying the most, on average, do not get back what they put in. As you move down income the scale, that is inverted.

This is just another example of how the ”rich” pay more than their fair share, with the potential exception of the ultra-rich who live off of capital gains from very large trust funds. That is a very, very small minority of people.
 
George Bush, Establishment Republican wanted to give people a choice about putting their money of SS into stocks, which i agree with. I have been invested in the stock market since 1987 and made plenty of money where i dont need SS, but i will take it anyway, because i at least paid into it, while others who never paid into it will get more than i will.
More republican BS.

Social Security Credits and Benefit Eligibility

https://www.ssa.gov › benefits › retirement › planner › cr

You must earn at least 40 Social Security credits to qualify for Social Security benefits. You earn credits when you work and pay Social Security taxes.

The number of credits does not affect the amount of benefits you receive. We use the number of credits you’ve earned to determine your eligibility for retirement or disability benefits, Medicare, and your family’s eligibility for survivors benefits when you die.

We cannot pay benefits to you if you don’t have enough credits.
 
Biden refused to name them, but here's the names of some of the loudest ones...



Do the USMB rightwing Republican-voters agree w/this attack on social security?

What's your position on this matter?

no one in the GOP is proposing to do away with SS. It needs to be fixed and there are several fixes being discussed. the media is lying to you, again.
 
Raising the cap without raising the benefits is just another tax on the “rich”. Keep in mind, we have been told that “rich” means $400k+/yr. Removing or raising the cap and not the benefits would negatively affect people making 160k+/yr. Keep in mind, that even as it stands to today, those who have been making the most and paying the most, on average, do not get back what they put in. As you move down income the scale, that is inverted.

This is just another example of how the ”rich” pay more than their fair share, with the potential exception of the ultra-rich who live off of capital gains from very large trust funds. That is a very, very small minority of people.
sadly, SS has become a tax thanks to LBJ and the dems. As such it should be collected on all income with no limits, and the retirement benefit should be higher for those who pay more into the system.
 
Keep in mind, that even as it stands to today, those who have been making the most and paying the most, on average, do not get back what they put in. As you move down income the scale, that is inverted.

Please provide a reputable link that supports this with data.

As noted in post #92, studies show wealthy people (on average) spend many more years drawing SS than do poor people. So with income cap'd and even drawing the maximum benefit, how are they not drawing more than they paid in.

Thank you in advance. Serious request as I'd like to see the basis of the claim.

WW
 
no one in the GOP is proposing to do away with SS. It needs to be fixed and there are several fixes being discussed. the media is lying to you, again.
smokin disagrees, but could not post anything explaining why. SS is broken, it needs fixing. No one is proposing to do away with it. BUT. if I had the option when I retired I would have taken all I have paid in plus accrued interest at 10%.
 
Please provide a reputable link that supports this with data.

As noted in post #92, studies show wealthy people (on average) spend many more years drawing SS than do poor people. So with income cap'd and even drawing the maximum benefit, how are they not drawing more than they paid in.

Thank you in advance. Serious request as I'd like to see the basis of the claim.

WW
the total you get back depends on how long you live. I think the break even point is around 10 years.
 

Forum List

Back
Top