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WashingtonCAN Fights To Protect Social Security From Privatization
Social Security turns 70!!
WashingtonCAN members and coalition partners celebrate Social Secuirty’s 70th anniversary in Westlake Center park. The program is under renewed attack as republican leadership promises to bring a new privatization bill up for a vote this fall in Washington DC.
WashingtonCAN is leading the statewide coalition to defeat privatization- Americans United to Protec Social Security – WASHINGTON. Our staff is working to educate individuals around the state about the facts and fictions of the Social Security “Crisis”. We are in the midst of a massive postcard campaign aimed at Congressman Dave Reichert, who has yet to take a stance opposing privatization. WashingtonCAN members have rallied, spoken at town halls, and met with both Maria Cantwell and Patty Murray’s staff to express concern about the proposed privatization plan.
Social security is the most popular and successful program we have in this country. Today, some 47 million Americans receive Social Security benefits each month. The Bush adminstration has a dangerous agenda to privatize Social Security. If Social Security is privatized it would mean drastic cuts to earned benefits for EVERYONE! Social Security guarentees benefits for retirees, people with disabilities, and surviving family members of deceased workers. Under privatization, the only guarentees are:
- Benefit cuts of up to 46% for everyone
- Risky Accounts with no guarenteed pay out
- A 5 trillion dollar debt that will be be paid back for years to come
Although President Bush claims he will save Social Security, the reality is that privatization proposals would destroy the program.
Social Security isn’t in a crisis, it’s under attack!
There is enough money in the Social Security fund to pay out full benefits until the year 2041. Under privatization, benefit cuts would start immediately. We want to strengthen this system in the years to come and under a privatized system, Social Security will be whittled away to nothing.
WHAT ARE THE EFFECTS OF PRIVATIZATION?
- Slashes benefits for anyone making over 20,000 a year by more than 40%, thes are the largest cuts in history and affect 70% of the population
- Though private accounts are voluntary, your benefit would be cut even if you don’t chose the private account. AND if you DO, you face a privatization tax of up to 70% in addition to your benefit cut
- In Washington, privatization would effectively create a $15.8 billion infunded Federal mandate by forcing more people to seek public assistance.
- Privatization disproportionately effects people of color, women and seniors.
- Young people will be left a $5 trillion dollar debt and a reality that doesn’t include Social Security.
The Facts About Social Security
Privatizing Social Security would devastate Washington State’s Economy
President Bush’s April 29th Press Conference on Social Security
Resources on the Web
Americans United to Protect Social Security
Center on Budget and Policy Priorities
Institute for America’s Future
