Chad Schuldt, a paid Daschle campaign staffer, has a post regarding John Thune’s comment in today’s Argus Leader on the issue of Social Security. Based on a debate I am having with a member of South Dakota’s left blogosphere, I learned that the lying left do not believe that saying someone is lying is a personal attack. So I am going to rebut Schuldt’s post by saying he is lying.
Schuldt provided this excerpt from the Argus Leader report:
"I would think they would keep their powder dry until there's a proposal on the table to evaluate," Thune said. "There's been a knee-jerk reaction to this concept, and people maybe aren't totally taking the facts into consideration. ... Their minds get made up on the simple cliches that prey on people's fears. If it's reduced to talking about 'privatization' and 'benefit cuts,' it's going to be hard to build a consensus around the country.
Here is Schuldt’s analysis:
Notice Thune will only dispute the use of the terms 'privatization' and 'benefit cuts'. He never denies the truth behind the words however.
Here's the bottom line folks:
1. THE HOOK-- President Bush wants to create a false sense of "crisis" in the Social Security system.
2. THE LINE-- President Bush is motivated by ideology rather than facts.
3. THE SINKER-- President Bush wants to privatize Social Security and cut guaranteed benefits by 1/3 to 1/2.
4. Senator John Thune has taken it all in -- hook, line, and sinker.
I believe, and correct me if I am wrong on this, one in five South Dakotans receives Social Security benefits. That's 20% of the citizens of the state get a check every month they depend on to buy groceries and pay their heat bill.
For some, Social Security is their primary source of income. In some cases, Social Security is their sole source of income. Now, to be truthful, those that rely on Social Security as their sole source of income have probably encountered some bad luck in their life, either through bad planning or some circumstance beyond their control. But I don't know that it would be right to tell these people "too bad" simply because of deep ideological convictions.
Is John Thune ready to tell South Dakotans he wants to cut Social Security benefits by up to half?
If Thune tells South Dakota that the plan to change Social Security results in cutting benefits in half, then Thune would be lying. Schuldt is spreading this lie by not looking at the facts.
One of Schuldt’s lies is that the Thune is cutting benefits by up to a half. He must have decided to ignore this portion of the Argus report:
AARP identifies itself as non-partisan, fighting for older Americans regardless of party interests. Republican lawmakers, however, back personal account models on an almost universal scale. That aligns the AARP firmly with Democrats, albeit by default.
The two parties do agree on the fundamentals: Unless Social Security can be righted, the program will start running in the red around 2018. Then, toward this century's midpoint, the system's trust fund itself will go broke, and retirees will receive about 73 percent of the benefits they now collect.
So if we do nothing, benefits will be cut 27%. This is a fact that the lying left doesn’t want you to hear. It contradicts their lie that there is "no crisis".
So what is the President’s probably solution? Sounds like he wants to allow us to put two thirds of our 6.2 % (4%) into a private account. The remaining 2.2%, plus our employer’s 6.2 % (total 8.4%) will continue going into the current Social Security system. In exchange for that right, we will have our benefit cut increased from the current 27% to about half. So let’s analysis this.
Let’s take Chad Schuldt’s brother who Chad claims is an underpaid schoolteacher making less than $25,000 per year. Assuming he does not get a raise and contributes the entire 12.4% into the current system he will retire and receive 73% of $900 ($657) current retirees are receiving monthly in SSI.
So if Chad’s brother takes up the President’s offer and puts the 4% into his own account, he will get only half of the $900. That would be $450. But here is the fact Chad does not address. Assuming his 4% contribution to the private account averages a 5% return he will have a $142,765 nest egg that is earning $595 in monthly in interest income. His total benefits would be $450 plus the $595 or a total of $1,045. This is a 16% increase over the $900 that current retirees are getting and is 59% higher than the $657 that can be expected if we do nothing with the current Social Security program. But the kicker is that upon his death, his estate will still have the $142,765 nest egg that is in his private account. Under the current system, there is no nest egg. The government rips off the $142,765.
So why would Chad want his brother to get ripped off? Because he refuses to get his facts straight and instead spreads the ideology of the lying left. With the help of the mainstream media, the left will get away with lying to millions. Its only guys like me who are capable of doing research and financial planning who understand the lies.
Tom Daschle’s lies may have been exposed during the 2004 election and he is now a DC resident, but his legacy of lies continue via those from his staff that are still here in South Dakota. The Argus Leader report also quoted Tim Johnson’s intentions:
"I have great respect for AARP," Johnson said. "That doesn't mean I agree with every position they take. But they have tried to address the needs of seniors, and many times it has involved expansion in the role of government. I've been supportive of that effort."
Yes, Tim Johnson is among those who do not want us to control our own retirement nest egg that allows us options. Instead he wants Americans forced into a government controlled rip off without options. This is not liberal or progressive...this is communism.