Wicked plan

President Bush’s plan for privatizing Social Security is another wicked plan of this administration. Social Security and union-negotiated pension plans have provided two or three generations of American working men and women a standard of living in retirement that no other generations have had.

Without Social Security, you’d have to save $250,000 by retirement, which at 5 percent interest would give you $1,000 a month (before taxes) in retirement benefits. Half of all American families, according to recent figures, have a net worth of $25,000. What are the chances of these families saving $250,000 for retirement, even over a working lifetime?

Pension plans have been underfunded and raided until the government agency that insures private pension plans for 44.4 million workers is in deficit by $23.3 billion. The trouble is the result of an explosion of ailing and bankrupted companies dumping their pension obligations on the Pension Benefit Guaranty Corp.

Social Security is the working person’s ace in the hole, so you’d better think twice before you let Bush and the Republicans swap your insurance plan for a lottery ticket.

Marvin D. Capeheart
UAW Local 862 retiree
Georgetown, Ind.

SS stabilizes incomes

On the subject of Social Security, I stand on the side of the people, not on the side of corporate greed and corruption. They put out false information by telling half-truths. They tell us that Social Security is in trouble because there are so many baby boomers and we need to create private investment accounts.

The stock market is only slightly better than a casino. When you look at its history honestly you’ll find there have been depressions, recessions and long level periods. That is why Social Security is here, to guard against these very things. Social Security has a stabilizing affect on people’s incomes and on everyone in the nation in a positive way.

They have already attacked Social Security through Medicare for the greed of the drug and insurance companies. I am not wealthy, nor important, but I know within my deepest soul that what they are trying to do to the people of this nation would be the most traitorous act that was ever committed.

Douglas L. Patrie
UAW Local 838 retiree
Clarksville, Iowa