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Boyd has climbed aboard the Bush SS private accounts in a big way, he is pushing hard. He has been met with much oppositon though. Last night he held a meeting in Tallahassee on SS and the public showed him they were not for it by a 4-1 against but I don't suppose that will stop him.
U.S. Rep. Allen Boyd was being pelted with Social Security questions and comments ranging from seriously skeptical to hotly hostile Tuesday night when a woman who won't be affected by pending changes herself seemed to summarize what the national furor is all about.
"When I retire, I want to retire," said Marguerite Burton. "I don't mind doing volunteer work, but I want to be guaranteed that our benefits will be there. And I want them to be there for my children and grandchildren."
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Boyd, a Democrat, is hosting a series of public forums on a personal-investment plan he has co-sponsored with Arizona Republican Jim Kolbe, told about 125 constituents in the Leon High School auditorium that the problem is simple and the solutions are complex. Projecting charts on a giant screen, Boyd said taxes paid into Social Security by workers and employers now outpace payments to retirees and other beneficiaries by about $150 billion a year - but that the trend lines will cross in 2018 and the trust fund will run out in 2042.
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The Kolbe-Boyd plan does not privatize Social Security and - like President Bush's plan - won't affect benefits for workers 55 and older. Younger workers could stash in personal accounts 3 percent of their first $10,000 of earnings and 2 percent of the remainder, up to the Social Security tax ceiling - which would rise from the current $89,900 in earnings to $142,500 over five years. ."
Instead of asking a question, Joe Cain just asked "for a quick show of hands" for or against Boyd's plan. With a chorus of groans, audience sentiment ran heavily against Boyd's suggestions and Cain estimated the vote was 4-1 or more against the idea.
www.tallahassee.com/mld/tallahassee/news/local
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