Democratic Senator Harkin Blasts Obama For 'Unravelling' Social Security

Me neither Robert. What's sad is that it took Tom Harkin to say it. I remember Tom from his early senatorial days in Iowa, and he was a stronghold Democrat--still is.

And yet you cannot dislike the man when he says it like he sees it. And personally, I like his view on it.

Lkessler

Gotta agree that he has the right view of this issue

He ripped him and his party a good one...and he is correct in doing so.

Vol fan

More than that he pointed out that we (the country) are making a mistake by making changes to the way social security is funded, the first step in fundamentally changing social security which he sees coming down the road

I think he may be right and that is scary for future retirees IMO

If you are mad at Obama over this then you will be ballistic over republican plans to begin the privatization process. At least Obama is trying to stimulate the economy by giving people a little more in tough times. It is a lot harder to find things you can do to help the economy when one side is doing everything in its power to thwart you. But I'm guessing this is just a place to bash Obama and you don't really care about SS at all.

lib50

I am not mad at Pres Obama, Senator Harkin is mad at him for this.

THe stimulative effect could have been accomplished by sending every tax payer a check for $1000 instead of messing with the social security funding payroll tax

If you had bothered to read #2.4 you would see that I commented that I commented that Sen Harkin was pointing out that the country was making a mistake not Pres Obama was making a mistake.

And whether Pres Obama initiates the next step in fundamentally changing social security or a Republican initiates that change, Sen Harking thinks (and I agree) that this may be a first step that facilitates that change.

We could debate that unless you simply want to lash out at those that question actions taken by the President, which is the duty of a citizen -- questioning the actions of our elected leaders and asking for clarification and justification.

Take care

Ok, maybe I was a little knee-jerk there. And I wasn't really going off on you personally, just in general. Even when you call me out I appreciate it because it makes me a more thoughtful poster. We can't all agree on everything, and God knows dems usually find all kinds of things to disagree on. Frankly Harkin, Manchin and some of the other blue dogs have ticked me off at times, but I have to admit cutting the payroll taxes would not have been my first choice, but I can see why it is needed. When congress can't work together for the good of the country options are limited.

lib50

With that I agree of late options are certainly limited in getting much of anything done.

I think we will look back on this as a bad, bad decision -- not a bad democratic decision and not a bad Pres Obama decision just a bad decision

And why it was the route chosen will be debated, blame will be assigned and argued and you know what it will not matter because it will be too late.

I foresee great difficulty in ever raising the payroll tax back to its original level and fear that this will be the first step in eliminating the funding of social security as a separate fund from other taxes and then we are on that slippery slope I mentioned.

I did not take it personal and fired back in the same vein and for the same reason that you made the original comment to make and reinforce a point.

I foresee great difficulty in ever raising the payroll tax back to its original level and fear that this will be the first step in eliminating the funding of social security as a separate fund from other taxes and then we are on that slippery slope I mentioned.

Exactly...but it IS an election year, so they play by different rules, meaning whatever will get them votes....

vol fan

Unfortunately you are quite correct

I am one very very old Independent senior citizen who remembers when SS was first proposed in 1935 and implemented in 37 by FDR and am truly and seriously interested in just how the ones who are so quick to demean the seniors of today would handle the conditions we existed under then. Operative word there, folks is existed!

FlNutmegger said: ...seriously interested in just how the ones who are so quick to demean the seniors...

Some examples, please, of how seniors are being demeaned and by whom?

Son of a gun, Dave I can't find the thread I was commenting on in order to give you a site. So I guess I am guilty of making maybe a false statement about history and current events and all of our younger citizens truly love us old people, eh? If I find that site again be assured that I shall return here and post it. Sorry for my miscue all the same.

Not a problem...I look forward to reading it.

Vic Eldred: which is why people like me have been investing overseas for a long, long time. I knew from the moment I was a teen that Social Security won't be there for me. And hell, if it isn't going to be there for me, how much less will it be there for those who come after me?

Let us not be stupid, and let us demand that such monies be rightfully given to the people--to invest as they see fit.

And yes, I know that there will be many stupid enough to squander it--but there will be many more smart enough to invest it in wiser ways than the government ever could.

LKessler #6.1...The money which I paid into Social Security, would have been better invested in a private investment. The money I saved, which was added to by my employer, pays better than the Social Security benefits. So, LKessler, you are on the right track. The thieves in Congress are on the wrong track. The thieves won't be punished here on earth, at least they haven't been up until now.

Because the people have allowed the wolves to run the henhouse, so to speak, Wolf...

It's high time the hens/roosters bite back and get their house in order!

LKessler & Wolf Wolfman:

You are both intelligent and I agree with what you are doing. However, Social Security benefits are most important to those who are either not very intelligent, uneducated or unskilled. The working poor will most likely never be able to invest or plan for the future and it may be in their interests alone that some attempt should be made to restructure the system. President Obama is in a good position to reform it, just like President Clinton was able to reform Welfare. (Politically, I think only the Democrats can do it).

Vic: I respect your position, while strongly disagreeing with it.

I think the people need to be educated enough to know that they can take that money and do better than government is doing for them. I have been paying into SS for the better of 2 decades now, and I know I won't see a dime of it. And I mean not one lousy dime.

Do I wish I had been given the chance to invest that money myself 15 years ago when I started investing? Oh yes, my nest egg would be well past the half million mark by now.

I learned a lot about investing... by watching people who did nothing about it and expect government to pick up the tab. That's just unreasonable.

LKessler:

We agree more than you know. Your point is well taken. You would have been better off having that money for your retirement. I am all for people being able to completely remove themselves from the system.

That still leaves the problem of the bankrupt system that is not getting fixed and those people who cant seem to set aside any money and now depend on it. (They happen to be a potent political constituency).

Vic: you are right--we agree more than I thought.

And I agree--those who can't seem to set aside any money and now depend on SS are a huge and powerful political constituency, but one that will strangle the livelihood and investment potential of those that come behind them if they are forced to continue paying for the lifestyle of those who depend on SS.

Thanks for the thoughts--I appreciate them! :)