Oppose social security privatization

ACORN Legislative Conference 2005

President Bush and his allies are proposing plans to weaken Social Security. They want to replace the current system, which has provided guaranteed benefits for retirees, the disabled, and others, with a risky privatization scheme, designed to benefit the well-to-do and Wall Street interests. There would no longer be a guaranteed benefit in case of family tragedy, and working people would no longer be able to look forward to a secure retirement. We would always be at the mercy of the market. Social Security has helped reduce poverty among the elderly. We can’t afford to return to the days when stopping work meant a trip to the poorhouse. Tell your member of Congress: “oppose social security privatization.”

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Fact: Social Security provides survivor benefits to 6.7 million widows and orphans, nearly two million of whom are children. This provides some economic security for those left behind when a family member dies unexpectedly. Benefits for a family with two children are the equivalent of a $403,000 life insurance policy. Social security privatization would cut benefits by 40%, a huge cut in this important social security program.