Hey scumbag AARP.............. Proud of yourselves?

[Proud2BAmurkin]

http://www.washingtonpost.com/wp-dyn/articles/A45726-2005Jan3.html?nav=rss_politics

The Bush administration has signaled that it will propose changing the formula that sets initial Social Security benefit levels, cutting promised benefits by nearly a third in the coming decades, according to several Republicans close to the White House.

Under the proposal, the first-year benefits for retirees would be calculated using inflation rates rather than the rise in wages over a worker's lifetime. Because wages tend to rise considerably faster than inflation, the new formula would stunt the growth of benefits, slowly at first but more quickly by the middle of the century. The White House hopes that some, if not all, of those benefit cuts would be made up by gains in newly created personal investment accounts that would harness returns on stocks and bonds.

[brokensymmetry]

1. With friends like that...

seniors really don't need enemies.

Where's the outrage?

I simply do not understand.

[Bouncy Ball]

2. At least four paragraphs, so I can get an idea of what it's about?

[WI_DEM]

3. When the AARP didn't stand up to Bush in '04

I decided I would never join their organization. Bottom line the AARP seems to care more about the retirees of today and screw those who come in future decades. That will be the Bush formula and they know how to sell these things. Don't do anything to the retirees of today but screw the future.

[Proud2BAmurkin]

4. I'll NEVER join either

.

[liberalhistorian]

5. I told my mom a few months

ago to tear up her annual registration card and send it back to them, which she did. And she'd been a member for years. She's totally disgusted with them right now, and worried about what my stepsister and I will face thirty years from now.

[oscar111]

6. Association of RETIRED AMERICANS ARA is a LW group

I think i recall that name correctly.

Many here at du mentioned it when the Gingrich pal became head of AARP... novelli., wrote preface to CONTRACT WITH AMERICA by gingrich

ARA should totally replace aarp.

N Zealand pioneered

NONCONTRIBUTORY pension plan.

I suppose that means ss comes from general tax revenue..so never a scare about THE FUND being low.

US wealth is 1O5 trillion.

www.federalreserve.gov/releases/z1/current/accessible/l5.htm

see its bottom line for wealth.

Truman's top tax rate .. ninety percent... on GDP of ten trillion, would instantly add 2. 7 Trillion.
to fed revenues for among other things... ss.

Enough for your retirement? LOL. i thought so. LOL.

Lessee... sixty mill retireds.

An extra 45 OOO dollars per retired person/year. If my math was right.

With existing ss income of say nine thousand/person... total would then be Fifty-Four thousand/person/year.

A couple would get $108,000 each year, using Trumans tax structure.
Truman was before Reaganomics cut the top rate to a puny one third of Truman's healthy rate.

Reaganomics is a failure.. wages now LOWER than when it began, ...adjusted for inflation. Reaganomics sparked nothing but mass homelessness and mass hunger.
Time to toss Reaganomics.

[ornotna]

7. Alliance for Retired Americans

Is this the group you're thinking of?

http://www.retiredamericans.org/

[hfojvt]

8. Well, they are the AARP, not the AAFRP

The American Association of Retired Persons, not the American Association of Future Retired Persons. Their modus operandi has always been to take from Generation X and younger boomers and give to the "greatest generation" and older boomers.