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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: sandintoes who wrote (1299)	7/12/2005 2:41:15 AM
From: Peter Dierks	Read Replies (1) \| Respond to of 71588

Left Launches Scare Tactics Against GROW Accounts Rep. Jeff Flake debunks the lies about Social Security reform. “It doesn’t matter if the accounts get each year’s Social Security surplus or a percentage of payroll taxes. What matters is that the money is taken away from Social Security. . . . The new plan actually harms Social Security by taking money away from the Trust Fund. . . . Shell-game gimmicks are used to cover up the damage.” – House Ways and Means Democratic Staff Statement released in immediate opposition to newly-proposed G.R.O.W. Accounts, which would stop the raid on Social Security’s surplus by Congress. I have news for the opponents of Social Security reform: money is already being taken out of Social Security. The G.R.O.W. Accounts proposal stops the money from being taken out of Social Security. Washington, D.C. will not change its ways – the surplus will continue to be spent. The only way to stop the raid on the Trust Fund is to transfer ownership of the money to U.S. workers. Facts: Social Security promises a monthly retirement check so that seniors will not be in poverty after they are finished working. The ability of the Social Security system to provide those promised checks in the future is in jeopardy. Therefore, fundamental change to the system is necessary. Currently, more Social Security taxes come into the system than are paid out in benefits. This surplus is “credited to the Trust Funds,” and then spent elsewhere. The federal government owes itself this money, meaning that the funds will need to come from future tax collections. Crediting the current surplus to future retirees’ individually owned accounts – accounts that are not owned by the government – is the only way to stop the spending of the surplus. It is simply wrong that money from the Trust Fund – which comes from taxes workers pay for their retirement – are spent elsewhere, and that they will have to be repaid with more taxes in the future. I applaud my House colleagues for introducing the G.R.O.W. Accounts legislation, which will finally stop the annual raid – and spending – of the Social Security surplus. I believe that Americans are not pleased with the spending of the Social Security surplus. The only “shell-game gimmicks” (besides pretending that there is not a problem with Social Security) are the Trust Fund IOU’s. freedomworks.org