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NEWS: Unions Protest Social Security Reform March 31st

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posted on Mar, 31 2005 @ 02:39 AM
The largest single day mobilization against Social Security Privatization will be held on March 31st. Workers, Union Leaders and Community Allies from cities across the country will hold events challenging Charles Schwab and other Wall Street firms to withdraw their support for privatizing Social Security. Activities will include rallies, town hall meetings, worker/student speak-outs and more. These events will take place in dozens of cities like Washington DC, San Francisco, Philadelphia and Chicago.
Workers, Union Leaders and Community Allies to Hold Largest Single-Day Grassroots Mobilization Against Social Security Privatization Thursday March 31
from AFL-CIO (Rand Wilson, ILCA Member)

National Day of Action to Target Charles Schwab and other Wall Street Firms that Support Risky Plan to Privatize Social Security
"Don’t Pick Our Pockets to Line Yours"
On Thursday, March 31, working families, union leaders and community allies in cities across the country will hold events challenging Charles Schwab and other Wall Street firms to withdraw their support for privatizing Social Security. The National Day of Action is the biggest single-day grassroots mobilization ever to defeat President Bush’s plan to create private accounts that would give a windfall to financial firms but cause Social Security’s guaranteed benefits to be cut by nearly half and increase the federal debt by $5 trillion. Groups say it is a clear conflict of interest for firms that manage retirement accounts to promote privatization, which would weaken retirement security.

AFL-CIO officers, union presidents and community leaders will join hundreds of workers, retirees and students for events in dozens of cities including San Francisco, Washington, D.C., Philadelphia and Chicago. Activities include rallies, town hall meetings, worker/student speak-outs and more. The events will also kick off the National Student Labor Week of Action, March 31- April 4.

Please visit the link provided for the complete story.

Hopefully these rallies will help to stop what President Bush wants to do with our social security. They say Bush's plan will cut the guaranteed benefits by nearly half and increase the Federal Debt by $5 trillion. We don't need that.

Related Discussion Threads:
Are you for or against Social Security Reform?

posted on Mar, 31 2005 @ 02:54 AM
Here are just 10 reasons to not privatize Social Security

There are 1,000 reasons to convince Congress to sign the pledge. Here are just 10:

1. Privatization would slash guaranteed benefits by 40 percent even for workers who DON'T choose private accounts. The average young worker would lose $152,000 in retirement benefits. (The Century Foundation, Center on Budget and Policy Priorities, Center for Economic and Policy Research)

2. The government would take back 70 cents in retirement benefits for every $1 in a private account. And that's on top of the 40 percent benefit cut. (Center on Budget and Policy Priorities)

3. Privatization would weaken Social Security by diverting money from the Trust Fund to pay for private accounts. That would make our retirement security problems WORSE.

4. Privatization would explode the federal deficit—forcing the government to borrow some $4.9 trillion in just the first 20 years—mostly from foreign countries such as China and Japan. (Center on Budget and Policy Priorities)

5. Privatization would leave retirees in poverty. Taxpayers and family members would have to provide them with the help that now comes from Social Security's guaranteed benefits.

Convinced? Please click here to send a message to your U.S. representative and senators:

Need more reasons to tell Congress to sign the Pledge to Strengthen Social Security and to oppose privatization? Here you go:

6. Privatization would open Social Security up to corruption, waste and Enron-ization because politicians would decide which Wall Street firms make billions in inflated fees off our private accounts. You wouldn't control your private account—someone on Wall Street would.

7. Privatization could raise the retirement age. Do YOU want to work until you're 70?

8. Privatization threatens benefits for people with disabilities and survivors of workers who have died. Today, Social Security is a lifeline for 7.8 million people with disabilities and 7.5 million survivors. (Social Security Administration)

9. We can strengthen Social Security without slashing guaranteed retirement benefits. Congress should pay back the money it borrowed from Social Security before even thinking about cutting our benefits, for example.

10. We can convince Congress to stop privatization in its tracks. Every day we see news reports that even Republicans in Congress have grave concerns about privatization. Members of Congress are waiting to hear from you that privatizing Social Security is the wrong way to go.

Please don't wait—act now by urging Congress to pledge to stop privatization and to protect Social Security.

[edit on 31-3-2005 by Ycon]

modedit: shortened link with bbcode

[edit on 31-3-2005 by Spectre]

posted on Mar, 31 2005 @ 11:56 AM
If a person sinks their retirement money into a company and the company fails.....or pulls a Enron. Who backs it.... the federal reserve??? Also... if it's the stock market the person chooses to invest and stocks fall or the market crashes... yes, it can happen, then again they loose ....either way..... how is this security.???? If the government repays the looses then it would be security.

Just a thought

posted on Mar, 31 2005 @ 11:58 AM
I advise everyone to go to this website, it does a damn good job of depoliticising this issue and gives you the facts!

They are concentrating on this very subject right now.

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