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Entries in Social Security (45)

Wednesday
Dec142011

U.S. Rep. Frank Guinta votes to protect NH families from a payroll tax hike

(Washington – December 13, 2011)   U.S. Representative Frank Guinta sided with hardworking New Hampshire families on Tuesday and voted with the majority in favor of H.R. 3630, the Middle Class Tax Relief and Job Creation Act of 2011.  It passed in a bipartisan vote of 234 to 193.   The measure would, among other things, extend the payroll tax cut for another year. 

Without a Congressional extension, the cuts will expire on December 31 and the payroll tax will automatically revert to its higher level on January 1, 2012, resulting in less take-home pay for many Granite State workers.  Rep. Guinta released the following statement after the vote:

“This bill protects Granite Staters from starting 2012 on the wrong foot by being slapped in the face with a tax hike.  Food, energy and other prices are still very high, and middle-class families can’t afford to have their paycheck shrink by almost $20 every week.  I’m committed to keeping taxes low for everyone, to helping job creators expand their payrolls and to getting more Granite Staters back to work.  I call on the Senate to pass this important legislation, and for President Obama to sign it.”   

The bill now goes to the U.S. Senate for consideration.

Saturday
Oct012011

McCotter - Continuing my service to you Social Security Reform Legislation

Last Thursday I ended my Presidential bid and announced my intent to continue to serve the sovereign citizens of the 11th District in Congress.

My decision to seek the Presidential nomination was based on my belief our nation was in need of leadership based on Principled Conservatism, one which would unite, rather than divide our party and our nation in a time of great challenge. The time has come for the Tea Party and the Republican Party to come together to serve and save this great nation.  During this time, I am proud of the fact our campaign was focused on the same issues you, my fellow citizens of the 11th District are focused on.

And so, I am committed to continuing my service for you, fighting to bring common sense to Washington. At the top of my list is to create economic opportunity for all, fulfill our promises to the greatest generation, and in doing both, creating the largest reduction of government spending in world history.

This is no small feat, but to accomplish these goals, I need your help, as President Obama and his most liberal friends are lining up millions to defeat me.

At midnight tonight, the third quarter fundraising reports are due and we can send a strong message to Washington.

I know money may be tight right now, but what we must achieve for our children and grandchildren is too important to ignore. Your donation of $10, $25, $100 or more will make a differenceand I appreciate whatever you can chip in.

Now, let's get back to the largest reduction of government spending in world history.

Earlier this month I introduced legislation (H.R. 2889) designed to save the Social Security retirement and disability trust funds from insolvency, which the Social Security Board of Trustees forecasts may otherwise occur as early as 2029.

The Trustees' 2011 Annual Report projects insolvency is likely to occur in 2036 given the most reliable current assumptions.  The McCotter plan salvages both the Old Age and the Disability trust funds from that projected insolvency without reducing benefits, raising taxes, or increasing the age of retirement eligibility.

My legislation achieves this through the creation of personal savings accounts eligible for reasonably flexible investment in the free market, offered to all workers aged 50 and younger.  Participation is voluntary, and a minimum return on investment is guaranteed.

Because the personal investment accounts replace as much as 50% of each participating worker's retirement benefit, the trust funds experience significant relief as soon as the first participants commence retirement.  Benefits for current retirees will be unaffected, as will future benefits for workers above the age of 50, and those who choose not to participate.

Funding for the personal savings accounts will come not from new taxes (which the legislation specifically forbids), but from efficiencies realized by block granting specific federal programs to the states, and from savings realized from the elimination of other federal programs to be identified in companion legislation.

The Chief Actuary of Social Security has confirmed that the legislation, if implemented, would eliminate all future deficits while satisfying all current obligations.  According to former Reagan administration appointee Peter J. Ferrara (author of four books on Social Security reform), if the McCotter plan were enacted it would generate "the single largest spending and debt reductions of government in world history." The legislation enjoys the support of Americans for Tax Reform, Americans for Prosperity, and 60Plus.

Thank you for your generous contribution!

Thaddeus McCotter

Thursday
Sep152011

NRN - Must Reads from September 14, 2011

Saturday
Sep102011

AUFC - Nashua Telegraph editorial: 'Quite the debut for 'Ponzi' Perry' & New Webvideo

See must read Nashua Telegraph editorial: 'Quite the debut for ‘Ponzi’ Perry' – Key point: “We understand politics and hyperbole go together like ice cream and apple pie, but Perry calling Social Security a Ponzi scheme is just factually incorrect.”

See also today from Politico:

http://www.politico.com/morningscore/

By James Hohmann

A SOCIAL SECURITY OPENING - DEMOCRATS ATTACK ROMNEY: Americans United for Change posted a web video last night with dated footage of Romney talking about his openness to private retirement accounts. The title: "Mitt Romney, Rick Perry, George W. Bush -- 3 Amigos, Gunnin' for your Social Security." The video: http://www.youtube.com/watch?v=KHOETLax1a4

Additional comment: "Rick Perry and Mitt Romney may use different degrees of extreme rhetoric when it comes to Social Security, but their goal is very much the same: dismantling Social Security via privatization and slashing benefits -- the same risky scheme President Bush pushed for that was overwhelmingly rejected by the American people.”

____________________________________________
Jeremy J. Funk

Communications Director, Americans United for Change

funk@americansunitedforchange.org

www.AmericansUnitedforChange.org

Friday
Aug192011

DNC - Perry Punts on Social Security, Blames Popover 

SHOT:

 

Perry Suggests Social Security And Medicare Are Unconstitutional, Saying The Founding Fathers Did Not Intend “General Welfare” To Include Federally Operated Pension Or Health Care Programs. Perry: “I don’t think our founding fathers when they were putting the term ‘general welfare’ in there were thinking about a federally operated program of pensions nor a federally operated program of health care. What they clearly said was that those were issues that the states need to address. Not the federal government. I stand very clear on that. From my perspective, the states could substantially better operate those programs if that’s what those states decided to do.” [Andrew Romano Interview with Rick Perry in the Fall 2010, via The Daily Beast, 8/12/11]

 

Three Times During A November 2010 Interview With Newsweek, Perry Called Social Security “A Ponzi Scheme.” “Whether it’s Social Security, whether it’s Medicaid, whether it’s Medicare. You’ve got $115 trillion worth of unfunded liability in those three. They’re bankrupt. They’re a Ponzi scheme…I think the first step in finding the solutions is admitting we have a problem—and admitting that Social Security is a Ponzi scheme…What I did say is, We have to be courageous as a country and stand up and admit that we have a Social Security program that is bankrupt, that is a Ponzi scheme…” [Rick Perry Newsweek Interview in November 2010 (published in full by The Daily Beast, 8/12/11)]

 

Rick Perry: “By Any Measure, Social Security Is A Failure.” In his book Fed Up!: Our Fight to Save America from Washington, published in 2010, Rick Perry wrote, “By any measure, Social Security is a failure.” ["Fed Up!: Our Fight to Save America from Washington," Gov. Rick Perry]

 

Perry: “I Challenge Anybody To Stand Up And Defend The Social Security Program That We Have Today." “I challenge anybody to stand up and defend the Social Security program that we have today…” [Rick Perry Newsweek Interview in November 2010 (published in full by The Daily Beast, 8/12/11)]

 

CHASER:

 

“But you said Social Security is unconstitutional,” Mitchell repeated.

 

“I don’t think I — I’m sorry, you must have,” Perry said before stopping himself.

 

Instead of elaborating, Perry stuffed a generous piece of popover in his mouth. (Perry called them “pop ups.”)

 

Rick Perry Can’t Defend His Claim That Social Security Is Unconstitutional Because He’s ‘Got A Big Mouthful’

By Ian Millhiser on Aug 18, 2011 at 12:48 pm

At a campaign stop at a New Hampshire restaurant today, Texas Gov. Rick Perry (R) refused to explain his previous claim that Social Security violates the Constitution. Rather than clarify how this firm stance can be squared with his post-presidential campaign announcement position that “Social Security’s going to be there” for the elderly, Perry stuffed some food in his mouth and then refused to answer because his mouth was full:

Inside the café, Gail Mitchell and a companion grilled him: “You said Social Security was unconstitutional.”

“Social Security’s going to be there for those folks,” Perry answered his inquisitors, making reference to the elderly.

“But you said Social Security is unconstitutional,” Mitchell repeated.

“I don’t think I — I’m sorry, you must have,” Perry said before stopping himself.

Instead of elaborating, Perry stuffed a generous piece of popover in his mouth. (Perry called them “pop ups.”)

“I’ve got a big mouthful,” Perry said and then ordering a glass of water. He later tripped over one of the women standing at his side pressing him on Social Security.

“I’m sorry, sweetheart,” Perry said to her.

Popovers, a hollow egg batter roll similar to a Yorkshire pudding, are delicious. But they are no excuse for Perry’s refusal to answer a basic question. In an interview with the Daily Beast’s Andrew Romano, Perry claimed that “pensions” and “health care” are not issues the federal government can address under the Constitution, so it’s difficult to see how Perry expects Social Security (or Medicare, for that matter) to be there for seniors when he is convinced that they violate our nation’s founding document.

And if Perry ever finishes chewing his popover, he has plenty of other questions to answer about his absurd vision of the Constitution, including:

  • ·         Pell Grants & Student Loans: When Perry said, “I don’t think the federal government has a role in your children’s education,” did he mean that all college students must lose their Pell Grants and federal student loans overnight, or can they finish out the current semester?
  • ·         Child Labor Laws: Does Perry’s statement that “national labor laws” are unconstitutional mean that he would like to hire child workers himself, or just that coal mine and factory owners should be free to start hiring 9-year-olds if they chose to?
  • ·         Ending Democracy
  • ·         Workplace Discrimination
  • ·         Jefferson Davis Perry

Clearly, Rick Perry has many, many questions he needs to answer about his twisted view of the Constitution. There probably aren’t enough popovers in New Hampshire to allow him to dodge all of them.

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