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December 1, 2009

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Letter: Bush’s plan for Social Security only aids cronies

Monday, Jan. 31, 2005 | 9:22 a.m.

Money has been taken from the Social Security fund to finance an advertising campaign to persuade people of the lie that there is a crisis. Social Security actuaries say the fund is totally secure until 2042 or longer.

Corporations are donating to a fund to buy ads to promote privatization. Does anyone think it's because big corporations have the best interest of the people at heart? Privatization will save those businesses money, because they have to pay the employer share of the Social Security tax. They won't have to contribute to the percentage that is privatized. Brokers will be paid a fee out of your account and the transition is estimated to cost $2 billion in the first decade, which will be added to our national debt.

Every detail of the Bush reform plan is geared to benefit corporate cronies, not the American families.

When you see ads telling you there is a crisis and it can only be solved by private accounts, or that you will make more money gambling with a Wall Street account, remember who is paying for those ads. Then ask yourself why.

JOANN FISCHELLA

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