Friday, February 18, 2005

Leftist Math

I sat down yesterday to write a long winded inspired piece about the new social security calculator put out by the dems. Long story short, I ended up at the bar. Luckily there are more responsible (and knowledgeable) men and women out there.

#1. Democrats assume that current Social Security systems can pay promised
benefits, but, in fact, benefits would be cut 27 percent by 2042 if nothing is
done. (Source)
Democrats assume final plan will include price-indexing when price indexing is
not in plan president laid out in State Of The Union address. (Source)
#3. Democrats do not account for investment gains. (Source)
The Washington Post: “Personal Accounts Would Boost
Benefits For The Average Retiree” Because Real Rate Of Return Is Expected To Be
4.6 Percent. (Source)
#4. Democrats make up “Privatization Tax” -
President’s plan merely prevents “double-dipping” by allowing workers portion of
traditional benefits if they choose PRAs. President Bush’s plan “would require
those who opt for a personal account to forgo some of their regular benefits.
It’s simply a trade-off - and it’s necessary to prevent double-dipping by both
having a personal account and drawing full benefits.” (Source)