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Reply-To: Lisa Hsu <lisashoe &AElig gmail.com>
In-Reply-To: <5f7eed63b19ac068fd84620f25c669af &AElig umich.edu>
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References: <STABENOW-IQHn0TqFhS0000a92f &AElig stabenow-iq> 	 <8d35806705021807152894eab0 &AElig mail.gmail.com> 	 <5f7eed63b19ac068fd84620f25c669af &AElig umich.edu>
Date: Fri, 18 Feb 2005 10:51:10 -0500
To: Robert Felty <robfelty &AElig umich.edu>
Cc: improvetheworld &AElig umich.edu
From: Lisa Hsu <lisashoe &AElig gmail.com>
Subject: Re: Keep the Security in Social Security!
Status: O

i also am not necessarily opposed to privatization, but i am sure that
there are many ways to do it wrong, including bush's plan.  also, i am
not sure there is a crisis looming the way there are other crises
looming, namely our deficits (both trade and budget).

i agree that we shoudl stop stealing from social security, and the cap
raising idea seems good.  i also think it wouldn't be crazy to raise
the age where you start getting benefits since people are living
longer.  but mostly, i just don't think bush's plan will do any good,
and thus i signed to try and tell him so.

i recently read yet another article in the NYT international edition
talking about how the Chilean privatization process has not gone well,
and yet even so, bush holds them up as a shining example to the media.

lisa


On Fri, 18 Feb 2005 10:41:48 -0500, Robert Felty <robfelty &AElig umich.edu> wrote:
> I am not opposed to privatization in theory, but after reviewing Bush's
> plan, it does not seem very good.  In order to do better than what
> social security would normally pay out, one has to have investments
> that get 3% above inflation, which could be anywhere from 4%-8%
> probably, which is not terribly difficult, but not that easy either.
> The risks also seem quite great.  So to me the potential reward does
> not seem worth the risk.  In talking with my dad, I suggested that they
> simply invest the social security money in U.S. treasury bonds, instead
> of having it just sit around not earning any money.  My dad informed me
> that they already do this.  However, there usually isn't much money
> sitting around.  When there is some money sitting around, our
> legislators usually pillage it for other reasons.  So that leads to my
> first proposal
> 1.  Stop stealing from social security.
> 
> My dad also made another recommendation, which president Bush has
> recently said he will consider, which is raising the cap on how much of
> income is subject to social security tax (FICA).  Currently one only
> pays FICA on up to $90,000 of income (it has been going up slowly -
> $76,200.00 in 2000).  This obviously benefits the rich greatly.  If we
> got rid of the cap entirely, that would greatly increase social
> security money.
> 2.  Lift CAP
> 
> Unfortunately, Stabenow's petition offers no suggestions, merely,"We
> need to build on the success of Social Security by developing bold and
> innovative ways for Americans to build wealth and save for retirement.
> Privatization is not the answer."  Why not suggest some alternatives?
> I am not going to sign her petition, but I will send her my suggestions.
> 
> Thanks.
> Rob
> 
> On Feb 18, 2005, at 10:15, Lisa Hsu wrote:
> 
> > hey guys,
> >
> > by writing to our senator (whom i like, she always sends back a
> > relevant message), i guess i've now gotten on the list to receive
> > emails on her pet issues.  this one is about social security and what
> > our michigan senator is doing about it.  she includes a petition to
> > tell Bush to take privatization adn shove it.
> >
> > lisa
> >
> > ---------- Forwarded message ----------
> > From: Senator Debbie Stabenow <senator &AElig stabenow.senate.gov>
> > Date: Fri, 4 Feb 2005 20:53:42 -0500
> > Subject: Keep the Security in Social Security!
> > To: kerry &AElig lisazapato.com
> >
> >
> >
> >
> > February 4, 2005
> >
> > Miss Lisa Hsu
> > 2200 Fuller Court, Apartment 401B
> > Ann Arbor, MI  48105
> >
> > Knowing of your interest . . .
> >
> >  . .  in critical issues affecting the future of our country, I am
> > writing to update you regarding the current debate over Social
> > Security.  As you may know, I am leading efforts in the United
> > States Senate to keep Social Security secure and ensure its
> > solvency through the 21st century.
> >
> > Social Security is a great American success story.  We need to
> > reject privatization schemes that would require deep benefit cuts
> > and massive increases in the national debt and work together to
> > strengthen and improve Social Security. We should look to the
> > future to create new ways for Americans to build wealth and
> > retirement security.
> >
> > Working together, we can achieve these important goals. But I
> > need your help. We need to join together and fight these
> > privatization schemes to keep Social Security safe for all
> > Americans.  I invite you to visit my website at
> > http://stabenow.senate.gov/socialsecurity for more information and
> > to sign my online petition to encourage President Bush and the
> > Congress to reject privatization and instead, build on the success of
> > Social Security.
> >
> > As always, thank you for your interest in the important issues
> > facing our country.
> >
> > Sincerely,
> > Debbie Stabenow
> > United States Senator
> >
> > ---------------------------------------------------
> > You are receiving this e-mail because you have previously
> > communicated with my office about a related issue. If you would
> > rather not receive e-mails like this in the future, please respond to
> > this message with the word REMOVE in the subject line.
> >
> >
> 
>