Anyone think turning SS over to the states as Perry wants to do is a good idea?

[NNN0LHI]

http://www.chicagotribune.com/news/politics/la-pn-perry-town-hall-20110930,0,479498.story

By Paul West

7:39 p.m. CDT, September 30, 2011

<snip>During the event, Perry repeated his claim that Social Security is a Ponzi scheme and hinted at ways he would consider changing the federal program to make it solvent. Those include raising the retirement age, providing “private options” for younger workers “to decide how is going to be invested, and allowing states to “opt out of Social Security and create their own programs” for government workers and retirees.

Perry indicated that those 55 and older would not be affected by future changes and warned voters not to let anyone “try to scare you” by claiming “this guy,” meaning himself, “is taking your Social Security away.”

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http://abcnews.go.com/Business/state-bankruptcy-change-life-public-pensioners-bond-holders/story?id=12732137

What if Your State Goes Bankrupt?

By ALAN FARNHAM
Jan. 24, 2011

Under existing law, a state cannot go bankrupt. That's not because the action is forbidden. Not the U.S. Constitution nor any other piece of paper says a state cannot. The bankruptcy code simply does not address the possibility.

Now lawyers, politicians and other ingenious folk are looking for a way around that problem -- a fact that should come as no surprise, given the perilous financial health of California, Illinois and other states encumbered with crushing debts.

The 50 states have spent collectively, in the past two years, half a trillion more dollars than they took in as taxes. Their pension funds, by some estimates, are underfunded by another trillion.

Like Titanic victims struggling in the water, they are desperately grabbing any orange crate that floats by, trying anything to stay afloat.

[hobbit709]

1. Does anyone think that ANY idea from Goodhair is a good one?

[BiggJawn]

3. No, not really. n/t

[no_hypocrisy]

2. Christie (NJ) would probably claim there's no money in the budget for SS

and would incrementally cut its funding.

[Faygo Kid]

4. Of course not.

And of course like all Republicans he wants to end Social Security or, better yet, privatize it so Wall Street can take that pot of gold and pocket it.

[Yupster]

5. We must have a DU'er in Galveston or Alvin Texas

Those are the places which haven't been in social security for the last 30 years. Need to hear from them how it works for them.

I don't live there so I don't know.

[NNN0LHI]

6. Those are the places which haven't been in social security for the last 30 years?

No one pays into SS in those two cities?

I find that hard to believe.

Don

[Warren Stupidity]

11. only county workers are eligible.

[NNN0LHI]

12. Thought it had to be something like that

Thanks for the clarification.

Don

[highplainsdem]

8. WaPo article on Galveston plan - beats SS ONLY if you're single, well off, & die within 10 years

http://www.washingtonpost.com/politics/galveston-alternative-to-social-security-held-up-as-model/2011/09/13/gIQArikIQK_story.html

For the highest-earning workers in the Gulf Coast county, the personal accounts have yielded nearly double what they might have collected under Social Security. But according to independent studies, the results have been less favorable to those on the lower end of the income spectrum.

In 1999, the Social Security Administration and the General Accounting Office (now the Government Accountability Office) separately examined the program adopted by Galveston and surrounding counties and found that its benefits depended on income and longevity: The lower one’s income and the longer one lived after retirement, the less advantage there was to participating in the program compared with Social Security. Also, Social Security payments increased with inflation, while payments under the Galveston plan did not.

“If you’re single, if you’re well off and you die within 10 years , maybe you’ve done better,” said Eric Kingson, a professor of social work at Syracuse University and a vocal critic of the Galveston alternative. “For most people, it’s somewhere between ‘very bad’ and ‘not very good.’ ”

Backers of the Galveston program say that the government agencies used skewed numbers in their analyses and that the benefits for lower-income workers are better than the reports reflected. Still, they acknowledge that it may not be as beneficial for lower earners because it does not distribute money according to a formula that helps the poor, the way Social Security does.

[mmonk]

7. No, Medicare for all should be allowed by the states.

[NNN0LHI]

9. How much would the monthly premiums be per person for Medicare by state?

I believe this came up during the health care debate not too long ago but I can't remember the exact numbers.

I remember Dennis Kucinich actually pushing this idea and everyone got really excited about the idea around here until they found out how much the cost per person was.

Remember what the cost per person was?

Don

[bluestate10]

10. For red states like Perry's NO. For blue states like mine, maybe.

Maybe as long as we keep republicans out of significant political offices. The people that we elect would do the right thing. And if we get our SS and FICA taxes back that we now send to red states, our seniors can be cared for with the complete respect that they deserve.

[LiberalFighter]

13. If Texas got their hands on the money???

How would it be managed when employees go from job to job and from state to state?

[catabryna]

14. And, then take this one step further, and all states did it...

Clearly, some states would have better benefits than others. I can't comprehend the lack of common sense of those who think that SS benefits should be administered by the states. How would that work out for a person who has worked in five different states?

:crazy:

[Strelnikov_]

15. Oh, yes, I think this is just the best idea ever. Should do the same with Medicare.

In fact, I would one up Perry and propose that we outsource all of the entitlement programs to China. I mean, if we want to run the country like a corporation . . and can you imagine the savings! Look what it has done for the price of cheap plastic shit we buy at Wal-Mart.

By god, we'll have enough money for 12 more CSG's and a whole fleet of stealth space shuttle terraist interceptors.