(Originally from Nevada Progressive)
But in case you can't, the transcript is below.
Robert: Congressman Heck, I just wanted to thank you, you know, because I’m a working man just like the rest of you and you’re absolutely right: Social Security is a pyramid scheme. And, you know, I’m just (unintelligible) because the money I’m paying right now I am paying for other peoples’ futures and fewer and fewer people are paying for my benefits as well. And that’s not what Social Security is intended for. Why aren’t more people talking about this, and what can Washington do to starting doing something to fix it?
Heck: Yeah, it’s a great question Robert and you’re exactly right. You know back in 1955 there were nine people paying in for every person collecting. By 1973 that dropped down to three to one. It’s projected that over the next 20 years it will be down to two to one. You know and it’s already said that Social Security is probably going to be insolvent in about 20 years. So we can wait until 20 years from now to take action, or we can take action now. And like you I’ve been paying into Social Security for almost 32 years and want to make sure that there’s a benefit there when I retire. I co-sponsored a bill that would say that Social Security contributions from your paycheck go into a fund that can only be used to pay for Social Security. You know, Congress… previous Congresses have raided the trust fund for other pet projects and to try to balance the budget and use it for other projects. We’ve got to make sure that the money going in goes specifically to those that are expecting a benefit at some point in time. And then we’re going to have to look at a lot of other options to put on the table to make sure that the program remains viable and stable. It’s a matter of leadership. You know, previous Congress has done nothing about the debt. They show no leadership on the debt and now we’re in a debt crisis. They are showing no leadership on Medicare and we are approaching a Medicare crisis. And if nobody wants to show leadership on Social Security we’ll have the same crisis in about 20 years. [emphasis mine]
Not only is Joe Heck doubling down on calling Social Security a "pyramid scheme", but he also throws out plenty of false "facts" he intends to use to scare us into privatizing Medicare and Social Security. When Heck was bragging about "taking action", was he talking about House Republicans' proposed (Un)SAFE Act to starve away Social Security by replacing it with private accounts? Does he really want to risk seniors' economic security with a corrupt privatization scheme?
Wait, doesn't this sound familiar? It should.
Contrary to what Sharron Angle and Joe Heck would have us believe, Social Security is A-O-K as it is. But by privatizing the system and getting rid of its cash flow, then and only then is the system in danger of collapsing. The Social Security Trust Fund is currently running a surplus. But if the system were to be turned over to Wall Street, upwards of $4.5 trillion would be needed to privatize Social Security for current workers while simultaneously handling the current caseload of retirees. Where will we get that kind of money? I thought House Republicans didn't support this kind of "borrow and spend" fiscal policy.
Of course, that's what Joe Heck doesn't want us to see. He just wants us to believe he's fighting the "big bad guv'mint pyramid scheme!"
But wait, there's more! Joe Heck also reiterated this morning that he supports Paul Ryan's "Kill Medicare" Plan. And yet again, he's using buzzwords like "CRISIS!" and "leadership" to distract us from what Paul Ryan's "Kill Medicare" Plan will do in Nevada's 3rd Congressional District if enacted.
The Republican proposal would have adverse impacts on seniors and disabled individuals in the district who are currently enrolled in Medicare. It would:
• Increase prescription drug costs for 9,500 Medicare beneficiaries in the district who enter the Part D do-nut hole, forcing them to pay an extra $94 million for drugs over the next decade.
• Eliminate new preventive care benefits for 120,000 Medicare beneficiaries in the district.
The Republican proposal would have even greater impacts on individuals in the district age 54 and younger who are not currently enrolled in Medicare. It would:
• Deny 780,000 individuals age 54 and younger in the district access to Medicare’s guaranteed benefits.
• Increase the out-of-pocket costs of health coverage by over $6,000 per year in 2022 and by almost $12,000 per year in 2032 for the 155,000 individuals in the district who are between the ages of 44 and 54.
• Require the 155,000 individuals in the district between the ages of 44 and 54 to save an additional $36.2 billion for their retirement – an average of $182,000 to $287,000 per individual – to pay for the increased cost of health coverage over their lifetimes. Younger residents of the district will have to save even higher amounts to cover their additional medical costs.
• Raise the Medicare eligibility age by at least one year to age 66 or more for 89,000 individuals in the district who are age 44 to 49 and by two years to age 67 for 624,000 individuals in the district who are age 43 or younger. “
So that's what Joe Heck really wants to force upon us in Nevada... And nationwide! Look at the above facts and figures. Does that look like "solving a crisis" or creating one?