McCain Plays the Social Security Privatization Word Game

[tycoonfortune]

Another reason why some banks fail is:

THE STUPID LEGISLATION AND THE CROOKED GOVERNMENT !!

The law is protection only the debtor.

The creditor (mostly banks) cannot do anything, when a debtor decides, it is more comfortable to do a breach of contract or default.

Instead the law should protect the creditor and empower the creditor, to make sure the debtor WILL BE MORE THAN HAPPY TO SERVE THEIR DEBTS !!!!

People who do not pay their debts should be legally ENSLAVED by their creditor.

[tycoonfortune]

@crgcja

It is NOT THE JOB OF THE GOVERNMENT to protect people from investment risks or bad choices. WELCOME TO LIBERTY !!!!

Of course, if banks are making risky bets with the funds of their clients, this should be considered a CRIME and PERSECUTED, whenever such an institution has not enough own property to cover all potential losses of such financial bets.

Unfortunately there are too much idiots, frauds, liers, deceivers and insane lunatics on this planet.

Would you please wake up, people??

[tycoonfortune]

@ iamafractal & TheOldGrady

YOU ARE MORONS AND RETARDS !!!!

Of course will i SUPPORT the privatization and abolishment of SOCIAL SECURITY. Its nothing, but a deceptive, coercive, plain evil tyranny.

Why should i entrust MY HONESTLY EARNED AND HARD WORKED FOR

MONEY to some worthless piece of shit government crook?

Being paternalised is something for CHILDREN and RETARDS, but it is nothing for FREE ADULT PEOPLE !

@ BeadStallcup

Whining after heaving learned a lesson the hard way won't help.

[TheOldGrady]

No one should have an individual retirement fund! This is America and we have Social Security and that's all we'll ever need. There is no reason that we should take any personal responsibility and make preparations for our own future. How nuts is that ? There is no way that Social Security will ever fail, it's been around for too long, so it will always be there.

Where did I put my pipe? Honey, bring us a bowl!

[BeadStallcup]

For the honest working folks who paid into social security for 40 years and were forced to do so, this is a cruel trick. Washington politicians promised us that if we'd just pay in back then, it would be here now when we wanted to retire. But now they're saying it's an entitlement from the government. No sir! We trusted parasites like John McCain to protect our "retirement" money and what did these two-faced ratsnakes do? Embezzled our social security trust funds and spent it.

[ToddBudreau]

LOL. Does he even know what privatize means?

[esotericfilms]

it our money?you came atraight out of a j.g. wentworth commercial

[biztitan]

The Keating Five if you remember or are informed (and are not just spouting the Liberal Talking Points), consisted of four others... all 4 were Democrats! McCain was not charged with anything, and the Senate Ethics Committee found that he played little if any role in the scandal.

[silverton7777]

McClain cost us a trillion in Saving & Loan Bankruptys scandal Remember people. And now he helped cost 2.5 trillion dallors in Iraq or

500 billion with interest. Sold us out to contracting other wise are cost would of been 75-100 billion.

[DrRonPaul]

If you like social security, you pay for it.

Let all the little munchkin idiots who are too stupid to set up their own retirement pay for it themselves.

Leave me alone. I'm not your mommy. I don't wipe your ass for you.

[arrepuess]

Not everyone is able to pay for an additional retirement plan. It all depends on the persons circumstance- If you pay for social security why dont you collect it? Not everyone may be as well off as some others, yet you cannot critisize because we all depend on EACH OTHER! think about it...period

[DrRonPaul]

That is THEIR problem. I don't depend on anyone but myself. I expect the same from everyone else.

Hey let me ask you a question. Why is it when you borrow money from the government they draw interest on it.

However, when the government TAKES money from you, they just give you back whatever the hell they want?

Yeah, it's a good system.

[arrepuess]

I understand banks have to make money to keep operating-why raise interest for no reason- "in most cases"?,why cant they listen to reason when you have a certain issue with credit? dont they make enough money to listen to each independant case?-but they do have funds to send out tons of useless mail-Its a win win situation. The government is even worse, you have no choice but to pay for every single money transaction you make. They say the US is one of the richest countries-not the people in it.

[checkurself]

lol...don't you depend on the banks to have your money in the bank when you ask for it? It's your money BUT the banks are using YOUR money to invest it on Wall Street to earn a profit. So it's okay for private companies to take your money and get rich? lol you crack me up!

[DrRonPaul]

So it's okay for THE "GOVERNMENT" to steal and get rich off your money?

Check social "security". There is nothing there and most definately won't be by the time I retire.

There is no such thing as a SECURE retirement. Get over your worship of the "government".

I just want the ability to use MY MONEY the way I want to.

Can I do that control freak?

[jizzmonger]

Then become self-employed and work for "YOURSELF" too.

[AfricanButtScratcha]

As a conservative, I can't even believe the Republican party insults the American people by naming this rambling, flip-flopping fossil as their nominee and hoping we'll vote for him because "Obama is even worse." I'll never vote Republican again.

[TehBloggaar]

nobama . tumblr . com

Say NO to Obama!

NOBAMA!

[FaZaL7]

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[JammyTom]

Dangerous guy

[JammyTom]

Just stop after the first sentence. You are insane

[IPOMonster]

Jammy...

Typical Liberal response.

Can't refute the facts, try to refute the individual providing the facts...

Try to do better next time son.

Humph.

[JammyTom]

Wow, you're serious. Go away and shoot guns and feel proud or something...

[IPOMonster]

Jammy...

The MOnster prefers to shoot Liberals son...

[JammyTom]

Yeeeehaaw cowboy don't let 'em hurt yer pride woohoo!

[IPOMonster]

Jammy...

That's your best comeback son?

Humph.

[TehBloggaar]

NObama . tumblr . com

Support this anti-obama site!

[aoarex]

racist pig....go back to your country asshole

[makaisenki]

Why support it? It's one of the stupidest sites I've seen. It has no good information. Even if it did it's so terribly organized there's no point in even looking for it. Most of the crap I've seen is just retarded mud throwing. *Sigh* can't you guys come up with good arguments against Obama and ACTUALLY go to his website to look at his official information on his stances? I've gone to McCains website, did not like what I saw. Terrible policies from what I saw.

[stopandthinkfirst]

i know what the dork stands for makaisenseless. not a damn thing! lmao except high taxes, higher taxes, and LETS FUCK EM ALL AND TAKE ALL THERE MONEY. mccain is ten times the man this little bastard will ever be. curious george.....rofl!!!!!

[annarboriter]

Orwellian...

[nostylecode]

This is what I was trying to post the day before Tim Russert (host of Meet the press) passed on, on some Colbert vid. here and than next day this sad news. So this was my post,*attempted post:

[nostylecode]

This is what I was trying to post the day before Tim Russert (host of Meet the press) passed on, on some Colbert vid. here and than next day this sad news. So this was my post,*attempted post:

[neurogrrl]

I love the CNN bar across the bottom that talks about McCain criticizing government spending- 100 years in Iraq couldn't cost too much, could it?

[dustynbones]

LOL! F'n REPIG speak.

[Teeftaller]

I don't like this man. I have to say to mccain he is no ronald regan. VOTE OBAMA!!!!!

[lzepln]

LOL, Reagan, the God of the far right.

[mo0dyman]

isnt putting their tax dollars into a account with their name on it privatizing social security?? correct me if im wrong

[laleeloolelo]

Hey Brave your comment is categorized as SPAM.

AHAHAHAHAHAHAHAHAHHAHAHAHAHA.

[fastcats3]

5 cents of every dollar paid into Social Security is spent on administrative costs. It is estimated that 50 cents of every dollar will be spent on administrative costs if it is privitized. Corps do some things better but not all things. When things are to be done on a massive scale, the gov is the better choice. If the politicians would quit raiding the ss trust fund, we would be better off.

[kellypack]

I'm a republican and have no candidate. This guy wants to give illegals a pass and probably wants to give them my social security too.

[kmoor04]

Fuck your goddamn troops.

[jogeryjogo]

illegal immigrants deserve your SS more than you do since their mexican

[makaisenki]

What the hell? Isn't putting something with your name on it to where it is your property umm... making something private? I don't understand how it's not can someone please explain the difference between Privatizing Social Security, and marking your teritory to where no one else is allowed to touch it, and how either of those are bad things that he needs to play these word games in order to defend himself?

[lzepln]

"Marking your teritory to where no one else is allowed to touch it." would be called saving your own money. Social Security takes your money and "saves it for you". If it's privatized, your money will be taken and given to a private banking organization. Thomas Jefferson said "I believe that banking institutions are more dangerous to our liberties than standing armies." This is why people don't want it privatized. We don't want banks in control of our country even though they already are.

[makaisenki]

Ok thanks for clearing that up. Ya the banks are already what's causing most of the harm in this country financially. We don't need to give banks any thing else to screw us over on. I was just confused on the differences of that thanks a lot.

[IPOMonster]

makaisenki...

Yea - God forbid Americans continue to borrow more money than they can afford!

Afterall, banks hunt you turds down and MAKE you borrow money you cannot afford to pay back.

What a great system!

Jackass...

[makaisenki]

There's more behind that. You call me a Jackass because I don't like how the bank system is. The system is set up to where the federal reserve bank can print up the money they want. They also have the ability to influence interest rates. That means that both inflation and the interest rates a generally a result of our banking system. They aren't regulated enough and can do essentially waht they want. They are some of the riches people in America and essentially control the market in many ways

[IPOMonster]

maka...

You need to take an Economics class. Then maybe you'd have an understanding as to why all the things you've mentioned are so important...

[crgcja]

Question: So if privatization means putting money in a savings account, when these crappy banks go under and all your money in your "savings account" is in there, then what happens next?

[lzepln]

Well, that's why the FDIC ensures any bank account up to $100,000.

[ashkha73]

BANK ACCOUNT, not mutual funds or other accounts at INVESTMENT banks such as Lehman

[checkurself]

yeah, but if a bank fails, it might be a while before you get that FDIC money back. If everyone one runs to the bank...it's not all there. It's being invested...on Wall Street.

[CARSONQUAMMSN]

He doesn't even use proper grammer! gotta, gonna

[peace4unme]

It's privatization, Johnny. No amount of spin will change that.

[DrRonPaul]

Great that means I can do what I want to with my own money.

You're a communist pig. No amount of spin will change that.

[peace4unme]

By your logic, that makes you a fascist pig.

Think Ron Paul likes having you post crap under his name?

[DrRonPaul]

Fascists believe in collectivism and so do you.

I believe in freedom. You believe in control.

Ron Paul thinks the same way I do he's just nicer about it.

[peace4unme]

Not even close, skippy. Beg, borrow, or buy a clue.

[dogstar7]

Don't let anyone tell you what John McCain said! It's not important how long we stay in Iraq. But don't let them say I said that! I don't care we we stay in Iraq 100 years. But don't let them say I said that! I'm for privatizing (young peoples?) Social Security. But don't let them say I said that! I'm for cutting capital gains tax for the richest 20% of Americans. But don't let them say I said that! I'm for immigration reform. But don't tell Republicans I said that!

[dogstar7]

Jesus!

We don't even have to wait for the next speech any more: McCain now contradicts himself in the same BREATH!

[skystring]

Yet, they say that the media is biased towards him and give Obama a slide. It is amazing how Fox news covers for McCains 'Senior moments'...

[fastcats3]

In the 80's, McCain found himself in trouble as one of the "Keating Five". It is then that he worked to make friends with the press. The day after becoming the presumtive nominee, he had a BBQ at his estate in AZ and invited the press corp. We cant trust the "fourth estate" to be our eyes and ears if they are hob nobbing with the people they are suppose to be watching. Like when David Gregory danced with Karl Rove. MSM can not be trusted-they helped sell a war on false pretenses.

[cminmd0041]

Young workers get a tremendous value from Social Security. They do not have to financially support their older relatives. Go to other countries w/o SS and it is very common to have unmarried or widowed aunts living with your family. This absorbs family resources that can't be spent on educating young people and investing in their own future or starting a business. In America we are so lucky to have the freedom to move as we need to, + start our families without having to support many other.

[Richardgwm]

Since George Bush took office, the US Dollar has lost half its value against the Euro while the annual trade deficit doubled.

We cannot afford four more years of Cheney/Bush economics under John McCain.

[fraMichigan]

its our money, and if we put it into an account, it will be an account owned by a PRIVATE Corporation that will be making a profit from OUR MONEY.

[crazycatfguy]

What is wrong with social security is LBJ signed an executive order moving the social security fund into the general fund where it could be and has been looted.

[arlopickens]

"I'm not going to privatize social security. I just want to privatize social security. Please don't twist my words."

LOL

[shanebarrow1]

ONe would think after seeing Bear Stearn collapse and the financial crisis in 1987, that the idea of Privatizing Social Security and placing many peoples retirements in the hands of the Stock market would be dead. Bush tried it in 2005and people werent buying it. Damn even RONALD REagan, the conservative god, saved socail security! privatizing social security has to be the dumbest idea in America today. Its simply a boon to wall street and banks. What the fuck is the GOP doing to our nation?

[iamafractal]

Reagan poisoned ss in 1983 when he put a $92,000 salary cap on SS tax. that comes out to $368 a work day.

Obama's plan is simply to make sure everybody pays their fair share.

so right now 25% of the income earned in the usa is by the small group of people making $8,000.00 a day or more. sometimes up to $2M a day, like hedge fund managers. but even if they make $2M a day, they still only pay $368 a day in ss taxes. that's not fair.

mccain is against taxing rich people the same % as all of us.

[fpm229]

Reagan also initiated the privatization of civil service jobs in order to hand over large contracts to his big business cronies, and forced civil service employees in those crafts to either accept another job or to hit the road. Cost over-runs by these companies were easily mitigated by contract amendments.

[fpm229]

iamafractal: Reagan stole a large portion of my Social Security benefits because I retired from the Federal Government. He called it double-dipping - even though I had paid into the SS system, in good faith, for 23 years prior to working for the DOD. This was called the Windfall Elimination Provision.

[Visfen]

Didn't he just say he wanted some of the social security to be private? He tried to word it differently, but it is still the same thing.

[iamafractal]

he was repeating bush's attempt in 2004 to do this. republicans are just salivating at all the money they could steal from the country to line their pockets if they could get rid of social security. and so many more would suffer and be too busy suffering to get involved in politics. its a win-win for the evil ones.

[Visfen]

But one thing is true though, social security is a mess. It needs to be fixed, but privatizing it is not fixing it, it doesn't solve anything.

[RemiG2006]

In 1997 we had social security reform here in Poland, EU. Then the government said, since now money will be in your private ss accounts and you'll decide witch private fund should manage it.

[RemiG2006]

Few days ago high court said in one of the cases that every citizen is obliged to pay to the funds and cannot drop out and what's more important in case of for example lethal accident all accumulated over years funds can't be moved to spouse or relative ss private accounts and 'supply' the treasury department!

The bottom line is THEY'LL SCREW YOU THE SAME WAY AS THEY'VE SCREWED US!

[iamafractal]

that's because ss is an INSURANCE program, not a SAVINGS account. if you live longer, you keep getting money... till you, your spouse and your dependents die. if you don't, then the money doesn't keep going to you. that's how life insurance works, and it means you don't have to worry about running out of money if you live a really long time beyond retirement, like you would with a savings account that can run empty. and as i said, countries that tried savings accounts found that to be a failure.

[RemiG2006]

Thanks for correcting me then Dave. I think I must have got it wrong with 401K.

[iamafractal]

you're welcome :-)

[WadeBlazingame34]

Stop Yelling John! We can hear you loud and clear, and we're all well aware that your ideas are garbage.

[iamafractal]

social security is an INSURANCE program, not a SAVINGS account. This is a tired old trickster way the republicans have been trying to slowly but surely get rid of social security... Accounting shows that if people put their money into "private accounts," big banks would profit, and retirees would only get a fraction of the payout they'd have gotten with social security. and it would transfer money to the wealthy like every other gop plan. if you want usa to be like burma, just go with mccain.

[shanebarrow1]

Of course! FDR never meant SS to be an investment plan! It is what it is a SocIAL INSUrance plan! BUT Republicans have been trying to get rid of it and private plans are how they want to do it. HOw in the fuck can an average American vote Republican? I dont get it. Why do you think Cheney said "deficits don't matter"? Republicans are trying to drown us in debt so programs like Social Security can be eliminated. Privatizing Social security is good for one group: Wall Street.

[Bigcee81]

whats wrong with privatizing soc security? it would be more efficient.

[iamafractal]

nope. actually social security has a 3% overhead for all operations. private banks expect to make a 35% profit. so it would cost 10 times more money to have a private version. Chile privatized theirs, and learned the hard way that now 40% no longer have protection, and worse, those who do, their money has been eaten up by voracious bank fees and commissions. privatizing is just another word for letting cronies have all our money.

learn more at socsec org see publication 503.

[WadeBlazingame34]

iamafractal: Great comments!! Here's my favorite line: "... it would transfer money to the wealthy like every other gop plan."

GOP = Transfer Agents to the Obscenely Wealthy

[edrammeh]

Efficient? There is much you don't take into account. This is about money for big businesses. It's about big profits and benefits for powerful and wealthy people. It's taking money away from people who need it to people who would use it more "efficiently."(building more wealth that is)

[Bigcee81]

ya got me. i completely forgot the government is extrodinarily competent when it comes to money.

most people dont even see the amount of money they've 'invested' into SS once they retire, much less any interest accumulation. god forbid we have corporate growth which would equal more jobs.

[iamafractal]

its an insurance plan. not an investment plan. once you retire, you get paid regularly until you die, even if you put in less money. that amount is adjusted for inflation and cost of living changes as well, unlike a retirement account. bottom line, you won't die of starvation or hypothermia like the majority do in countries without social security. and that was the way people died here before it was enacted. that's not the way to respect our elders.

[nicholas9999]

bigcee: It's not an investment system, it's an insurance system. It's a social safety net thing, which is a bad idea until you really really need one. Corporate growth? You mean the growth of a narrower and narrower oligopoly in the country so that we can show good DJIA numbers, but 1/4 of the pop is not meaningfully participating in that healthy-looking economy?? You don't mean the corporate growth that has contributed to the absence of a healthy broad-based vigorous capitalism, do you???

[iamafractal]

those tired old trickle down ideas have been proved wrong again and again. the wealthiest are NOT nearly the most efficient users of money. especially paris hilton, who is an example of a wealthy person. her money would be far better used in the hands of many young enterprising entrepreneurs than in the hands of one sunbathing heir who won't do anything with their billions. that's what makes America great. we don't let money settle into the hands of a royalty class where it sits for centuries.

[Bigcee81]

"that's what makes America great. we don't let money settle into the hands of a royalty class where it sits for centuries."

Is that supposed to be a joke?

We don't allow rich people to stay rich? I'm starting to think you have a sizeable amount of wealth yourself...but you feel guilty about it. So to cope, you're mouthing off as a caring socialist. Hmm...

[iamafractal]

who do you think is going to use money better? paris hilton, because her dad was rich? or dozens if not hundreds of the most entrepreneurial young recent graduates or people just out of college from the GI bill? the idea is to churn the money around and give everybody a chance at the golden ring. it is the completely opposite idea of conserving tyranny. it is about liberalizing the economy. it is what this entire country is based on. in the wake of the gop great depression we had 90% tax rates.

[JerezJulio]

He says he do not want to privative Social Security, But he want to take out younger people from an have they they saving in private accounts. How is going to run these profitable private accounts?

Isn't that what privatizing Social Security is?

Don' we know that as 401k Plan?

401k plans can easily go broke.

The man is a fool senile moron talking about stuff he know nothing about.

[Waranle]

This old decrepit motherfucker need to shut up

[brymagjoe]

This guy is a joke. McCain and Obama is the best we have to offer. Sad...sad...sad.

[nicholas9999]

bry: I urge you to study the Obama bio. He is utterly self-made. He has a freakish way of doing his homework (including asking for a lot of advice), erecting a strategy,, and then _executing_, meanwhile looking for any seams that offer him an extra advantage. Clinton underestimated Obama and he outfoxed her. Obama is an extremely persistent dedicated problem-solver. Don't be so sad.

[shanebarrow1]

So true! Obam is such a careful planner. His entire career was so brialliantly planned that you might not notice it at first. EVerything from his Harvard education down to his experience as a community organizer is planned and planned well. His political skills are nearly unmatched but he comes off as harmless. What I love about B.O. is he is an agile thinker. He's open to new ideas. At least he will listen to them. He may not implement them but his mind is so open it only helps

[Weaseldog2001]

McCain continues to be against everything he stands for.

[jakeasturm]

What an ORIGINAL idea?? lol

[hollyhoodjoe123]

How fucking stupid do John McCain think that the average American is? Don't answer that....

[ChuckyChuckster]

To fix the American Social Security system is simple. All that has to be done is to delay retirement, as has been done recently in Germany, and then not give benefits to the top 25% of earners.

We would then be one of the only systems anywhere other than Germany's that would be saved.

The rest of the world's systems are headed for bankruptcy faster than ours.

Sarcasm about McCain, part right and part wrong as he may be reveals a lack of depth, a belief in superficial understanding being right

[Weaseldog2001]

Take income cap off. It'll be fine then.

[tyndarius]

"My friends, 100 years in iraq, when we bring troops home is not important. But I will run the economy even further into the ground keeping the neo-con elitist power structure in place."

[UGOTDAJACK]

I cant believe these people live in New Jersey... It seems as though "country folk" aint the only one who can easily be BAMBOZZLED

[auamoti]

is he trying to sound like someone else?

[Weaseldog2001]

Aren't young people already allowed to invest?

When I was 18, I was able to buy and sell stock. Have they changed the laws?

[abassler]

He's not talking about the stock market he's talking about privatizing social security.

[Weaseldog2001]

Except that he said that he isn't...

[sonnybrown]

I think he's making a joke...

McCains = not... very... smart.

[GarrettDoyle]

sure John... you might be able to fool a group of southern idiots but not the rest of the world

[josiahdallas]

Is anyone going to ask him to stop saying "my friends" every three seconds