March 8, 2005
YET WE LET THEM VOTE:
At Heart of Social Security Debate, a Misunderstanding (DAVID E. ROSENBAUM, 3/08/05, NY Times)
The Social Security trust fund "had plenty of money in it," Anne Cash, a 70-year-old retired federal worker, declared furiously at a town meeting in North Philadelphia last month."It should not be tampered with," Ms. Cash told her congresswoman, Allyson Y. Schwartz, a freshman Democrat. "It was not intended for the government to borrow."
President Bush, Ms. Cash continued, "owes that money back."
Senators and representatives across the country have heard similar assertions, based on a misunderstanding of how the system works, from constituents who oppose the president's plan to change the basic structure of Social Security.
"The Social Security trust fund has produced more bad public discussion than any other budget entity," said Douglas Holtz-Eakin, director of the Congressional Budget Office.
The confusion is frustrating to Republicans who side with Mr. Bush.
"If the president can convince people how the trust fund works, we're over a hurdle," said Senator Charles E. Grassley of Iowa, the chairman of the Finance Committee. "The trust fund is a mirage, but I still have Iowans say to me, 'Where's the money?' "
In the words of the great Mencken: No one ever went broke underestimating the intelligence of the American people. Posted by Orrin Judd at March 8, 2005 7:28 AM
Oh, so it's the Bush/Rove/Haliburton Ponzi Plan that robbed the trust fund. Please.
I still can't figure out why I can't just send my parents a check every month and get a tax credit for it. At least then maybe it wouldn't hurt quite so much to look at my paycheck stub.
Posted by: John Resnick at March 8, 2005 11:00 AMFraudulant finance schemes have always confused the public.When one begins by calling a pyramid scheme 'insuarnce' and taxes 'contributions' you know you've got a problem.
Posted by: Tom C., Stamford,Ct. at March 8, 2005 11:48 AMAren't these the same people who think a lottery ticket is a good investment?
Posted by: TimF at March 8, 2005 12:05 PMI'll never forget that day in my 12th grade civics class, back in 1960, when our teacher, "Fat Leo, " we called him, but not to his face, explained how Social Security worked. "No, you're lying!" some of the students actually said. They refused to accept that the money taken out presently was not being set aside in some "trust fund" on "lock box." Don't ask what delusions they accepted concerning the graduated income tax.
Posted by: Lou Gots at March 8, 2005 1:34 PMWe could ask them to locate the key for the lock box and while they are looking for that one, the key to the batter's box.
Posted by: Robert Schwartz at March 9, 2005 12:14 AM