SOCIAL SECURITY WORKS

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http://www.jimhightower.com/air/read.asp?id=11233

 

SOCIAL SECURITY WORKS

11/18/2003

 

Let me tell you a story of progressive progress.

 

In 1939, two-thirds of America's senior citizens lived their " golden years " in

cold, hard poverty. Just a decade later, that percentage was down to half. By

1959, it was only one-third. Today, the number is less than 10 percent.

 

That's progress. What's progressive about it is that this decline in poverty is

the result of the New Deal's passage of our nation's landmark Social Security

program.

 

Yes, the very same program now under attack by Wall Street wolves and

congressional opportunists of both parties who insist that Social Security is

doomed to failure and facing an imminent financial crisis.

 

Horsedooties. First, this is a program that actually works, providing the

modicum of income so our gray-haired citizens have a basic level of decent

living when their earning years are over.

 

Second, Social Security is a model of efficiency, requiring only a single

percent in administrative costs. Compare that to the insurance corporations that

suck out one-third of our healthcare dollars to pay for their corporate

bureaucracies, executive salaries, marble palaces, and advertising.

 

But, no, cry the Chicken Littlers, Social Security is going broke! Hogwash.

Without changing anything, Social Security is financially sound for the next 40

years. Name me a corporation that can claim that!

 

Yet, the Bushites – on behalf of Wall Street finaglers – seek to privatize this

public treasure, pushing people to put their Social Security nest egg into the

stock market. Hello – these are the same investment geniuses who only three

year's ago would have advised you to invest in Enron – a stock that fell from

$97 a share to 57 cents in only one year!

 

Wall Street hustlers, members of Congress, and other

" reformers " already have their own golden retirements covered. I say no one

should be allowed to " reform " Social Security unless they actually need it.

 

 

 

 

 

 

" Connect the Dots " , New York Times, April, 2, 2002.

Professor Mark Stern, School of Social Work, University of Pennsylvania

 

 

 

 

 

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