Tuesday, September 21, 2010

Gen Xers better Wise up; Pensions Gone and GOP Reductions in Social Security. Stop and Think, Grow up!!!

The idea that Social Security won't be there for Gen Xers has been sold successfully by Republicans through constant repetition. But the younger more irresponsible generation better grow up fast and understand that people that look like they could be their parents, aren't, and don't have your best interest at heart.

With the reality of low wages and no benefits, Gen Xers should be fighting to shore up Social Security now, before it's too late. The market place takes care of the bottom line, not you, unlike the free market Ayn Randers who would have you believe otherwise. Rep. Paul Ryan and others assume prices in a competitive market place will only get lower. Have they really? Cell phones aren't cheaper than land lines, LCD monitors aren't cheaper than the old box tube sets, car prices aren't under $7000 anymore and rents aren't about go any lower. Colleges getting cheaper? Competition does not mean lower prices or provide better health care either. These are mythical images conjured up by freedom loving corporate interests.

Don't let Republicans raise the retirement age...

EPI Vice President Ross Eisenbrey … outlined the problems with raising the retirement age in op-eds in USA Today and U.S. News and World Report, where he stated that raising the retirement age cuts benefits for all retirees, no matter when they retire. "The fact of the matter is that benefits are already less than modest," Eisenbrey wrote in the U.S. News piece. He stressed that, even with Social Security, 3.5 million seniors are already living below the poverty threshold.

The Huffington Post also quoted Eisenbrey describing how "the key sources of income retirees are relying on are either under attack, in the case of Social Security, or disappearing, in the case of traditional pensions."

"The early Boomers are better off than the late Boomers, and God help the poor Gen Xers. Seventy percent of them are on a track that leads to a fallen standard of living in retirement," said Eisenbrey.

CEOs making $1 million pay Social Security taxes on about 10% of their salaries; secretaries pay on 100%.

Enhanced by Zemanta

No comments:

Post a Comment