This isn't the fake, false, fearmongering claims offered up by the Obama campaign about how Republicans, and especially John McCain, want to take away Medicare. This actually is happening. From Sharon at Commonsense Political Thought. Actually - she's quoting Ed Morrissey's story at Hot Air.
A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research in New York, contains elements that are being considered. She testified last week before Miller’s Education and Labor Committee on her proposal…
Under Ghilarducci’s plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation.
The current system of providing tax breaks on 401(k) contributions and earnings would be eliminated.
Sharon asks:
Why would Democrats want to gut the best retirement savings vehicle Americans have? Two reasons: (a) more government control for them and (b) more money for them to spend on things we don’t need.
Remember the “Social Security lockbox”? The one that doesn’t exist because we use the money to hide the size of the deficit? Now imagine that there are two lockboxes…both available for government pilfering and both without you being able to control your money. For 600 bucks.
Are we beginning to see what Democrat control of the presidency and congress would look like?
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