Social Security Letter to NM Congressional Leaders

I wrote the following letter (in various forms) to my state’s Congressional Leaders and the President.  I heard back only from Congresswoman Heather Wilson.

I am contacting my members of Congress regarding an issue of concern to me.  I am deeply troubled with the President’s agenda regarding Social Security.  I do not support the idea of privatizing or creating personal savings accounts in place of Social Security.  I believe that there is sufficient reason to be wary of the President’s plan.  The UK implemented many of the same ideas being touted by the President and the administration.  I believe if you were to study their system and talk with citizens there, they would tell you it is an unmitigated disaster. 

I don’t disagree that some changes are necessary but as one who is on the very tail end of the baby boomer generation, I am fearful about my retirement years.  First, I believe the President must stop raiding the Social Security surplus.  The fiscal irresponsibility of this administration is scandalous.  I don’t think there would be a problem if the surplus were not being raided.  Secondly, I believe it is fundamentally unfair that high-income wage earners are exempt from contributing Social Security taxes for incomes above $88,000.  The financial burden on lower income wage earners (below $88,000) is another example of class warfare.  All earned income positions that are eligible for Social Security should be paying their fair share. Also, I do not think it unwise for all Americans to divert a portion of their income into investments.  I just think that Social Security should provide the guaranteed level of retirement income.  Multiple sources of retirement income are a good idea for any retiree.  The President should be encouraging all Americans to save more but he should guarantee every eligible worker their guaranteed income at retirement.

I have worked hard for the past 20 years and I have contributed to Social Security, personal investment accounts and my state pension (PERA).  Of the 3 vehicles available to me, my personal investment account has been the most disappointing.  I have participated in mutual funds and individual stock accounts.  I lost all money investing in my own accounts and my mutual fund has not performed well over the years.  That is why I think the President’s plan will not benefit individuals but rather investment houses and their stockbroker’s.  Retirement income is not something to play with.  For those of us not born to well and privilege, the President’s plan is a dangerous scheme, which is likely to leave us in poverty.

I beg and implore you to not go along with the President’s agenda on this issue.  I am hoping that you are a person of integrity who will do what’s right for the citizens rather than capitulate to partisan politics.  This is an issue that I am very passionate about and I am encouraging all my friends and family to contact their Congressional representatives about this issue.  If needed, I will campaign vigorously against the President’s proposal and any of his supporters.


Posted by Nuttshell on 02/09 at 02:04 PM in Blogging

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