FEATURED ARTICLES
- Younger Workers & Social Security: Privatization of the Program Undermines Their Future, Common Dreams
- RHINO'S BOTTOM LINE: Death By Design - The Plot To Destroy Social Insurance, The Black Commentator
QUOTE OF THE DAY:
"There may be times when we are powerless to prevent injustice, but there must never be a time when we fail to protest."
- - Elie Wiesel (Nobel laureate)
KNOW YOUR HISTORY:
April 12th
1945 -- US President Franklin
Delano Roosevelt, 63, dies of a cerebral
hemorrhage in Warm Springs, Georgia. Vice-President Harry
S. Truman was sworn in as the next President.
RHINO HERE:
On this, the 60th anniversary of the passing of President
Franklin Delano Roosevelt, I offer a few thoughtful pieces on the current state of the security of social life in the USA, the most important part of his legacy..
Here's a brief timeline of FDR's life:
1882 - Born in Hyde
Park, New York,
1910 - elected to New York Senate
1921 - Democrat nominee for vice president
Same Year - Stricken with polio, confined to braces & wheelchairs
1928 - elected governor of New York
1932 - Elected US President at the height of the depression.
The only US President elected
to 4 terms, Roosevelt led the nation for 12 years, through the Great Depression & World War II. Roosevelt died on April 12, 1945, less than 3 months after he began his 4th term. It seems to the Rhino that the shrub gang is doing everything they can to destroy the most important pieces of Roosevelt's legacy, both the policies & programs, & the spirit of The
New Deal.
The Franklin and Eleanor Roosevelt Institute's web site
for The Universal Declaration of Human Rights
AT: http://www.udhr.org
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Younger Workers and Social Security:
Privatization of the Program Undermines Their Future
by Seth Sandronsky, Common Dreams, 4/10/05
These are tough time for many younger workers in the U.S. Real wages, what they can actually buy with their pay, are falling. The costs of gas, health care and shelter are climbing. Student loans to attend college are fueling debt for younger workers. Meanwhile, workers age 20 to 24 got about 4% of the new jobs created in the year ended March 2005 versus 42% for workers over age 55. Squeezed from many directions, some younger workers fear that Social Security will not be around for their retirements. The Bush administration is playing on that fear. It is fed by some reporting in mass media.
A Washington Post article said younger workers "have the most to gain" from President Bush's plan to create private accounts to fund Social Security (3-15-05). A Christian Science Monitor article said a change to private accounts from the current system of payroll taxes would "sweeten the system for younger workers" (3-3-05). Both articles are incorrect on private accounts for younger workers. How? The private accounts invested in the stock market would pay, barely, for the administrative costs of such investments. Thus there is no net gain for younger workers. For more information, see the Accurate Benefit Calculator
For a preview of retirement funded by the stock market, younger workers
should look to workers over age 55. They are flooding into the job market
because their 401(k) retirement plans in the stock market have dropped
in value. That factor helps explain why older workers took roughly half
of the new jobs created in the U.S. for the past year, says Dean Baker,
co-director of the Center for Economic and Policy Research in Washington,
DC...
MORE: http://www.commondreams.org/views05/0410-25.htm
The BOTTOM
LINE is by Dr. Maya Rockeymoore, who formally served on the Social Security Subcommittee of the U.S. House of Representatives Committee on Ways & Means. She's co-editor of "Strengthening Communities: Social Insurance in a Diverse America" and author of "The Political Action Handbook: A How To Guide for the Hip Hop Generation."
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11:17:13 AM 
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