Our dear Senator has responded to a letter I wrote to him regarding his position on privatazation. He is for it. No surprise there really, except PA has quite a few more seniors than most states, and although this whole "reform" isn't supposed to effect(or is it affect) them, I think that most would be dead set against any changes to their beloved program. His letter reads in part:
During my time in the United States Senate, I have worked to build support for proposals that would safeguard benefits for current retirees and those nearing retirement age, while allowing younger men and women the option of saving part of their earnings in personal accounts that they would own, building a nest egg that would, unlike Social Security, be an asset that their loved ones could inherit.
He goes on to reference S. 1878, the Social Security Solvency and Modernization Act of 2003 whereby:
This bill would establish personal retirement accounts funded by employer and employee Social Security payroll deductions. Specifically, this measure would give workers 54 years of age and younger the option of redirecting 4 percent of their taxable earnings to personal retirement accounts starting in 2006. Under this proposal, all workers would be allowed to contribute up to 5,000 annually to their accounts and the goverment would be required to match low income workers up to $500 per year.
And the letter ends with this sentiment.
We do not have the option to put reform off any longer. Congress has the amazing responsiblity and opportunity to strengthen and improve Social Security.
He'll be sure to keep MY specific comments in mind. Heh heh.