Obama (speaks) on Social Security Changes

[brooklynite]

Source: New York Times

COLUMBUS, Ohio – Halfway through a two-week economic tour, Senator Barack Obama turned the topic to Social Security on Friday, sharply criticizing Senator John McCain for his stance and suggesting that Mr. McCain is a flip-flopper.

“My opponent in this general election, John McCain – his idea of Social Security amounts to four more years of what was attempted and failed under George W. Bush,” Mr. Obama said, referring to Mr. McCain’s previous support of private accounts within Social Security. “Yesterday, he tried to deny that he ever took that position, which leads us to wonder if he had a change of heart or a change of politics.”

Mr. Obama flew from Chicago this morning to take his economic message to this key swing state, and made his first and only public speech of the day to a group of fewer than 50 senior citizens at a retirement facility here.

Speaking alongside his wife, Michelle, and the state’s Democratic governor, Ted Strickland, Mr. Obama laid out his plan for Social Security and retirement, which calls for an adjustment of the cap on the payroll tax, and to eliminate income tax for senior citizens making under $50,000 a year.

Read more: http://thecaucus.blogs.nytimes.com/2008/06/13/obama-on-social-security-changes/

[Faygo Kid]

1. Adjusting the cap would hit me, but that's fine. It's historically low.

We can "solve" Social Security pretty easily, actually, with a little political courage. And privatizing a portion of it is NO solution. We need more retirement savings account vehicles, but in ADDITION to, not carved out of, Social Security.

Medicare is another story.

[rocktivity]

2. Getting rid of the cap altogether, and EVERYONE can pay a LOWER rate.

:headbang:
rocknation

[LiberalFighter]

3. That would be better!! And tax stockbrokers more if they advocate SS elimination.

[papau]

13. True - removal is worth 1.7% tax - some give back via lower rate is justified.

[Demobrat]

4. It would hit me too. And that's fine.

I'd rather pay now while I'm doing well and know SS will be there for me when I'm old and need it.

[madrchsod]

5. getting rid of tax on old people is just the ticket

it`s a win for barack when he goes up against johnny boy on this issue

[Demobrat]

6. It might even win over my mother the Bush lover

who thinks he walks on water because he sent her $300 of her own money and called it a gift.

[madrchsod]

7. i`m in the illinois 14th where foster became the first democrat

in about a million years. he was elected in march because fat denny resigned. so the first thing the the committee he is on gave him to sponsor is a tax reduction or elimination of the federal tax on homeownership for retires.. well something like that...three mailings so far about this.

so barack is out there saying let`s eliminate taxes for those who are 65 and make under 50,000 and foster is sponsoring a tax relief bill for those over 65.......

looking good is`t it.....

[RUMMYisFROSTED]

15. Does she know about the $250B+ that we pay in interest every year

for political pandering and failed rw policies?

Face, meet Knife.
Knife, meet Nose.
Nose, meet Spite.
Spite, meet Face.

[drm604]

8. Eliminating income tax on seniors

That's a real winner! I have to tell my mother about this so she'll tell all of her friends and relatives. I wish the media would talk about it.

[happygoluckytoyou]

9. he isnt a flip-flopper..... he ALWAYS says what is on his straight talk mind

its an AGE thing... the carborator is still carborating.... but the pistons aren't pissing any more......
why do you think many GOP are afraid to back him.... because the only thing that he resembles of their god RONNY is the alzheimer years chapter-----


10. When John “the republican” McCain says he knows what Jesus would do… he does… they went to school together
9. When John “the republican” McCain says he understands war, he should, as a sargent in WWI he had to protect his privates
8. When John “the republican” McCain says he understands health care, he should, at 3a.m. when the phone rings he’s trying to pee
7. When John “the republican” McCain says he understands education, he does, he is concerned for his great-great-great-great-granddaughter who is having a hard time in an overcrowded in high school
6. When John “the republican” McCain says he understands family values, he does, he trashed his first wife “hey who stuck me with the short old broad with the limp?”
5. When John “the republican” McCain says he can take on the economy, he can, he suggests everyone with money problems marry a wealthy heiress
4. When John “the republican” McCain says will keep Cheney around, he should, you never know when you’ll need spare parts
3. When John “the republican” McCain says he understands global warming and the impending Ice Age….. aww come on…. too easy
2. When John “the republican” McCain says he is fun and lively, he is, as a child he always won when they played “rock, papyrus, arrowhead”
1. When John “the republican” McCain says he is for safety, he knows that as president he will be responsible for taking one more 40 MPH driver out of the freeway fastlane

[surf]

10. Dont count on Social Security for your retirement.

The government treats it like found money and spends it every year. Plan your own retirement account.

[Patchuli]

11. Welcome to DU!

What? No profile? Don't you want us to know who's talking to us?

[Liberal Gramma]

12. Obama has said when he's president the SS funds won't be raided

Not everyone CAN plan their own retirement account, some earners have to depend on SS

[papau]

14. ? - the yearly take 50 years out can provide 80% of promised benefits even if Trust fund stolen

[customerserviceguy]

16. That's what I'm doing

If it's there for me at 67 (chances are, in the next fifteen years, that will be moved out, anyway), then it will be gravy money, nobody's going to look out for me as well as I can. And will.

I had to drain my piddling rollover IRA about three years ago, only this year have I started to put money away in my company's 401K. When I get my bills paid off in the next year, I intend to stuff money into it as much as possible, it will save NY income taxes as well, since I plan to re-domicile myself in a non-income-tax state at retirement. That's an immediate 6.85% return on investment, which allows me to put my funds in government bond funds that don't have the risk of the stock market.