General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhere are the folks who assured me and others we didn't know what we were talking about
https://www.cnn.com/2025/07/30/politics/social-security-privatization-scott-bessentAs to them stealing Social Security? They would fear the pushback they would never do it blah blah blah


Eliot Rosewater
(33,275 posts)I will say it again, they will take everything absolutely everything every penny everybody has every protection for the environment every area of justice thats not corrupt every thing the government does to help average people and poor people, everything is going to be taken everythings going to be destroyed
But hey yeah Hillary did make a speech to corporate fat cats one time so yeah cant vote for her
or if I do vote for her Ill have to hold my nose cause you know shell only do 98% of what I want and thats not acceptable to me
For the impaired this is sarcasm😡
Eliot Rosewater
(33,275 posts)That the Biden administration mishandled funds and most of the money in Social Security and Medicare is gone, this will be a fucking lie of course but you watch.
This will be the lie excuse as to why it has to be privatized because thats the only way to save it blah blah blah.
AZJonnie
(1,109 posts)


"To the extent that if, all of a sudden, these accounts grow and you have in the hundreds of thousands of dollars for your retirement, then thats a game changer, too."
Yeah, dipshit, that's a nice if it happens kinda thing. But you know what can also happen? THE FUCKING OPPOSITE. And that's a *LOT* worse. PEOPLE WILL DIE.
Gambling our hard-earned money, that we depend upon as a last resort, to survive, on the Wall Street Casino/Con Game is NOT what Americans want. And you know who's REALLY invested in the system? THE SYSTEM. Yet 2008-2009 crash happened, didn't it? The system didn't want the system to fail, because it never does. BUT IT DID.
SO, fuck you Bessent!
Lastly, who wants to bet that the fuckhead Republicans who set this up won't find a way to make it so your "Trump Account" can be summarily revoked? Or set it up so that citizens "Trump Accounts" aren't the very first instruments that 'lose value' if the market tanks? "Citizens" will all be like the people holding the lien on a 4th fourth mortgage on a property.
Anyone reading this: TRUMP IS A FUCKIN CONMAN AND TRUMP ACCOUNTS WILL BE A BLATANT SCAM.
Eliot Rosewater
(33,275 posts)Any money in any bank account a year from now for Social Security or Medicare. I am telling you they are going to announce that because the Biden administration fucked up most of the money is gone in both accounts, this is a lie of course but thats whats going to happen.
AZJonnie
(1,109 posts)Probably it'll be
ZOMG!!! Obama, Hillary, Biden, Kamala, Newsome, AOC & Schiff STOLE ALL your SS money and gave it to George Soros, FOR REALS!!!11!
pat_k
(11,506 posts)Even an absurdly high estimate of year-over-year compound interest doesn't yield anything near an SS "replacement."
They are insane. Stark raving mad. No sensory apparatus known to man.
Specifics here: https://www.democraticunderground.com/100220524903#post10
1WorldHope
(1,483 posts)Because that is exactly what Mike Flood told us all on the phone town hall where our questions were limited to the Big butt ugly Bill and healthcare, I think. But mostly he told us how the BBB was going to expand Medicaid services and they will never touch Medicare.
How do you cut 1.02 trillion from Medicaid and CHIP and expand services?
Eliot Rosewater
(33,275 posts)Woodycall
(543 posts)and I believe I sad it in reply to you, if I'm not mistaken. Buy a gun, and learn how to safely and effectively use it. Before you can't. And not a fucking "Hollywood Cowboy" gun like a 9mm pistol. They're fine for home defense but they will just get you killed if (or when) shit hits the fan. I recommend a lever action 30-30 carbine for a lot of practical and economic reasons, which I will not elaborate on unless you ask. If you detest guns and things go well, you can sell it to a sportsman or, destroy it. These American Nazis are as serious as a heart attack. They have been waiting (and planning) 90 years for this and have blown past so many "red lines" that for them to retreat now will mean life in prison, or even death, for the major perpetrators. They can't stop now and, they know it. So basically, in my humble opinion, singing "We Shall Overcome", is not going to cut it this time...
B.See
(5,975 posts)(of us) have been warning of most all that's come to pass (and coming) for damn near a decade...
about what would happen to democracy, to separation/balance of powers, about the integrity of future elections...
warned about the 'supreme' court conservatives,
about the rise of fascism, white supremacy, far right ideology and the demonization of immigrants and minorities,
about right winged inspired threats, acts of violence and domestic terrorism,
about the attacks upon healthcare, social services and so-called entitlements,
attacks on the middle class, on veterans, upon the working poor,
attacks on consumer protections, environmental regulations, gays and people of colour,
attacks against the media, public education,
attacks against facts and TRUTH ITSELF.
Warned of all the above and more. But we were doom sayers and chicken littles.
pat_k
(11,506 posts).. refused to even raise an objection, even though Stephen Breyer's dissent effectively gave them an instruction book when he pointed out that all the decision accomplished was to render the election incomplete and therefore unlawful under Florida law, and that now it was up to congress to judge the legality of the electors.
Yes. We had plenty of American bigots long before that. Yes, the rise of FOX News propaganda in the 90's had Democrats in a defensive crouch. But their refusal to stand up for our most basic right -- the right to vote and have our votes counted -- was a failure of epic proportions. It was their moral duty and their failure to carry out that duty sent the reactionaries into overdrive. It effectively told them, "Do what you will. It doesn't matter how treasonous. Call us names like "sore loser" and we'll run for the hills."
And then the failure to impeach Bush and Cheney for war crimes. Another moral imperative for every member of congress. They took an oath. They failed. They stood down in the face of violations of the conventions that enshrined principles that 16 million Americans fought for and more than 400,000 died for.
Moral failings of that magnitude in the people we entrust with power and who are bound by oath to defend our constitution has a cost.
We lobbied them to act. Some did. But not the leadership.
We lobbied them to object to the Ohio electors on 1/6/2005, and succeeded in getting Barbara Boxer to join Stephanie Tubbs Jones (may she RIP). That was a meaningful win. But it could not turn back the clock an erase their failure on 1/6/2001.
Things are so horrifically extreme now that more of them are understanding the stakes and the imperatives.
And we must keep lobbying them to up their game.
Perhaps this is a new sort of turning point. Perhaps enough patriots in office "get it" and we actually begin to turn back the reactionary tide. Perhaps not.
The only thing I know for sure is that now is not the time to give up in despair.
Silent Type
(10,557 posts)pat_k
(11,506 posts)Yes. They are absolutely hellbent on dismantling SS. I have no doubt they have all sorts of plans. But they are in fantasyland if they imagine these child accounts will somehow do the trick. It's nuts.
What the hell are they thinking? They somehow imagine that every new parent has $5000 laying around to add to the $1000?
Looking at the numbers, 28%-34% of American's between 18 and 44 have NO emergency savings. Another 31% to 37% have between 0 and three months of expenses (see chart). So, for a vast majority of these accounts, the $1000 will be it. And, even if invested "wisely" you can bet it would be withdrawn long before retirement.
But, let's play the fantasy "child accounts will earn so much they'll replace social security" game for a minute.
So, they deposit $1000. And they assume all parents magically have the wherewithal to deposit $5000. So, in their dreams, every kids starts with $6000 in their child savings account. Running the numbers without inflation (another fantasy given that investments that outpace inflation are far from "sure things," but we'll ignore that too), that $6000 would need to earn about 7% in compound interest annually to yield a balance of $558,295 in 67 years. That amount sounds to me like a modest SUPPLEMENT to social security, not a replacement.
Given that there is absolutely no long term investment that would guarantee 7% in compound interest, that fantasy scenario is not likely to materialize for any meaningful number of these these babies/future retirees.
To be a bit more in the real world, the kid could buy into a bond fund and reinvest earnings. Assuming today's 30 year rate of about 5% and a variance of plus or minus 2%, your balance in 67 years would be $157,700.
Nothing wrong with starting young and having some money earning money, but no way in hell is that a replacement for SS. It's hardly even a decent supplement.
Of course, the reality is that less than half -- perhaps a lot less than half -- of parents are likely to have the wherewithal to make that initial investment. Sounds to me like something they can pull out later to blame poor people for being poor. (We gave you a chance to make a bunch of money, but you blew it!)
brush
(60,756 posts)as the backlash would be so severe rethugs would pay dearly at the ballot box.
Eliot Rosewater
(33,275 posts)pat_k
(11,506 posts)They are fired up and battling the corrupt, immoral, Un-American power grab.
https://www.democraticunderground.com/100220524919
lostincalifornia
(4,012 posts)and Ted Cruz.for Senate.
Sorry, but I do not have much confidence in Texas ever since they lost Ann Richards.
pat_k
(11,506 posts)But they ARE battling. And will break quorum if they must. And that will make the corrupt power grab national news. The blatant attempt to steal 2026 in advance will piss off more independents and wake up more people. In his Senate run, Beto lost by less than 3% (closest race in 40 years) and significantly raised turnout. And Democrats ran in every congressional district and flipped a couple. And in the years since, they've been doing a better job at organizing and running everywhere than most states.
https://www.democracydocket.com/news-alerts/can-texas-democrats-stop-the-redistricting-by-breaking-quorum/
Dixiegrrrl
(110 posts)They have 3 years to do whatever they want.
What we have seen so far was unthinkable up to 10 years ago. And look what has been happening since Jan.
brush
(60,756 posts)You don't actually think he doing great do you? Even magats like Joe Rogan are up in arms of the Epstein mess.
lostincalifornia
(4,012 posts)stakes were. The Supreme Court was at stake, and the republicans have been trying to get rid of Social Security and Medicare since they became law.
lostincalifornia
(4,012 posts)Obama, the turned and voted for trump.
Never trust those who belong to the Wall Street groupies, they only care about one thing, enriching themselves, no matter who gets hurt.