3
Feb
2005

Social Security - NOT for Sale

In last night's State of the Union address, President Bush turned up the volume in his effort to sell America his next big scam: Social Security privatization. He tried to dress it up, but here's what it really means: smaller Social Security checks for us, and fatter Wall Street wallets for the President's friends.

Privatization is the President's #1 priority this year. If we are going to stop him, each of us needs to step up and say no. It makes no sense to replace a guaranteed Social Security benefit with a guaranteed Wall Street gamble.

Please do your part to get that message out where you live, and help counter the President's spin. Ask the editor of your local newspaper, radio or TV station cover the facts behind Bush's privatization scheme.

//action.ourfuture.org/ctt.asp?u=1742757&l=76835

President Bush talks about Social Security as if the sky is falling! But the facts tell a different story. According to the Social Security Administration itself, the system can meet 100% of its obligations for the next 37 years with no changes at all. And beyond that, there are less risky things we can do to shore up Social Security.

Consider that the President himself only pays Social Security taxes on less than a quarter of his income. That's right, the law today exempts every penny of income over $90,000 from Social Security taxes. If we raised that ceiling to the President's salary, we wouldn't be having this conversation.

Privatization is the ONLY Social Security crisis. The President's plan would cut benefits and funnel about a third of all Social Security money into Wall Street. Without Social Security, 40 percent of seniors today would live in poverty. The Bush privatization scam would cheat a 20 year old worker out of $152,000 in Social Security checks over his or her retirement.

The media needs to start reporting this truth about privatization right now. Please ask them to do their job.

//action.ourfuture.org/ctt.asp?u=1742757&l=76835

Over the next two days, the President will travel to five states to try to sell privatization to the American public. Everywhere he goes, the Campaign for America's Future and our allies will greet him with thousands of people at protests and news conferences. But the message needs to be heard nationwide -- this is where you can help.

President Bush has no mandate to privatize our Social Security, but he is being helped by powerful allies. Together, we can stop them. Please contact your local media today.

//action.ourfuture.org/ctt.asp?u=1742757&l=76835


Sincerely,

Adam Luna, Policy Director
Campaign for America's Future
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