Dear Betty: Feb. 8, 2005

I wanted to take this opportunity to update you on some important news about Social Security.

5.5 million Americans receive SS Disability benefits each year. As you know, SS provides vital economic support when an individual or family member can no longer work. At the same time, SS has been able to provide this support at a relatively low cost.

Now the Bush Administration is proposing a plan that would particularly private SS by creating personal savings accounts. Many Americans with disability simply will not be able to save enough funds in a private account to make up for likely benefit cuts. A person who has been paying into the system and becomes disabled at age 30 will receive payments for the REST of their lives under the CURRENT system.

I fear that privatization proposals are harmful to current disability beneficiaries. Not only are payments cut under all the plans I have reviewed, but some will NOT allow access to the private account until retirement age. What good does that do a 45-yr. Old who needs income support immediately after he is diagnosed with a serious form of cancer?

SS also pays benefits to widows with disabilities, who are not yet of retirement age, widows caring for dependent children with disabilities, and adults with disabilities who were dependents of wage earners who have passed away or retired. It is NOT clear how private accounts are going to pay for people in those various situations. So far, the Bush admin is not talking about this issue.

It is very important that people with disability are NOT left out of the discussion as the Bush admin and congress debate this important issue.

If you would like to receive periodic updates regarding my work on SS or on any other issues, please visit my website and sign up: http://Harkin/senate.gov

For your info, I have included a copy of my remarks from the Senate floor on 1-31-05. Rest assured, this is just the beginning of MY fight to protect the SS program that has provided Iowans with rock-solid income protection since 1935.

Sincerely,
Tom Harkin, Iowa US Senator

NOTE: I tried to bring up Tom's web site twice; wouldn't let me in.

Tell them to pay back the money they took out of the trust fund. Charge more for the companies. If they moved oversees so that do not have to pay the FICA tax, tax them to pay for the workers that lost their jobs over this.

That is the way I understand it.

The way to fix SS is to get it out of the General Fund that congress put it in.

I agree companies that move overseas need to be penalized but please understand WE pay ALL taxes. Companies pass tax increases onto us, the consumers. So ya see WE pay ALL the taxes.