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If you are like me, you probably are looking forward to and planning for retirement; and those plans probably involve receiving the Social Security benefits you've been promised...the benefits you've been paying for throughout your working life.
While I do not intend to depend on Social Security benefits as my only source of retirement income, they do play a major role in my retirement plans. In fact, many of the financial decisions that I have already made in my financial planning were predicated upon these future benefits, and I am sure the same is true for you.
That's why I became concerned last year when President Bush and members of congress announced that the Social Security program is facing serious long-term funding problems that call into question its future solvency and ability to meet its benefit obligations.
But, I became frustrated and confused when they began calling for tax increases and/or benefit reductions now in order to fix those problems. You see, I'm old enough to remember the last time Social Security was in trouble, they raised taxes and reduced benefits saying it would fix the problems. It didn't, they say the problem is still there! Now they want to do again what didn't work before...
At least the President (and some others) suggested that in addition to raising taxes and reducing benefits that we try integrating other changes into the system; they suggest so-called private accounts and/or means testing. While I applaud them for wanting to try a new approach, I don't like either of their suggestions.
Private accounts would not only compromise one of the most important aspects of the program... the SECURITY, they would also require even greater tax increases and/or benefit reductions be made to offset the contribution losses to the current system.
The President claims these accounts have the "potential" to earn greater rates of return and produce greater benefits for future retirees. If true, then why are so many pension and profit sharing plans under-funded today? Virtually all of them are invested in the stock and bond markets and most of them are in worse condition than Social Security.
In fact, so many of these plans have failed in recent years that the government sponsored Pension Guaranty Fund is itself nearly broke and likely to soon need a government bailout if it is to continue pension payments. Additionally, many current retirees have seen their pension benefits reduced in recent years because of investment losses.
Mr. President thank you, but no! I would rather keep my Social Security benefits free from those types of investment risks...I believe the old saying "a bird in the hand is worth two in the bush" applies here. Besides, there are ways to improve the rates of return on the current reserves without having to take investment risks.
They forget, before we had a Social Security system all we had were private accounts, it became a problem and Social Security was created to be the solution.
And, Means testing is just wrong! Means testing would require each Social Security beneficiary to complete a financial application for their benefits disclosing all of their assets and sources of income. Those who have assets and/or incomes in excess of allowable limits would forfeit all or part of their benefits; in essence, be penalized for having saved and planned.
Since everyone in Washington seems convinced that the problems are real; and the majority of them want to just raise taxes, reduce benefits and call it a day, (actions that will cost me and probably you thousands of dollars), I decided to look into the issue.
My name is Bruce F. Ruark, for over 20 years I have made my living solving financial problems as a professional personal financial planner. I spent well over 100 hours of my time researching Social Security.
I gathered and read over 100 reports compiled by government agencies, The Federal Reserve, Washington "think tanks," and non-profit organizations like AARP. These reports were comprised of thousands of pages and filed with exhaustive charts, graphs and tables, enough to dissuade most people from learning the truth and just accept what Washington says.
The truth about Social Security is:
- There are financial problems that need to be addressed and resolved;
- But, raising taxes and reducing benefits only address the symptoms of the problems and, therefore, offer no solution; and
- Only three simple actions need to be taken for everyone working today (and generations to come) to be able get the benefits theyıve already been promised without having to raise tax rates. In fact, the surpluses created by these actions would be great enough to even provide significant increases to those benefits!
I want you to know that these statements are true, so for your benefit I've written Saving Social Security - A Commonsense Approach to Finding a Permanent Solution.
1) Are you concerned about your future Social Security benefits?
2) Do you want to keep the benefits you've been promised without having to pay higher taxes to get them?
Saving Social Security.
This concise easy-to-read report not only provides an historical look at the origins of the world's largest retirement benefit system, it:
- Exposes the problems that now jeopardize its future financial solvency, and their true underlying causes;
- Explains why raising taxes and/or reducing benefits will never solve the problems and why they'll actually make the problems worse;
- Tells why privatization and means testing are bad ideas; and
- Explains why the continued success of this program is vital to us all, not only individually, but also as a nation.
But it doesn't stop there; Saving Social Security provides simple commonsense solutions that, if enacted, would:
- Restore and protect the financial soundness of this vital social benefit program thereby guarantying you your benefits;
- Eliminate the need to raise tax rates, reduce benefits or take unnecessary investment risks with your future benefits;
- Create future surpluses that will provide for greater benefit increases to meet the growing costs of retirement.
In addition, this book will show you:
- How Social Security could be used to
- Create jobs,
- Grow the economy,
- Restore and improve Americaıs decaying infrastructure,
- Attract and retain the jobs of the future,
- Enable America to retain its leadership role in the world of the 21st century; and
- Most importantly, the easy steps you need to take to get Washington to make the changes that can make it all happen.
Democracy is a wonderful thing, but it only works when we (as citizens) get involved. Our founding fathers created a government of the people, by the people and for the people...a government that is to serve at our pleasure and for our benefit; but for that to happen, we must make both our needs and wishes known to our elected officials.
Unfortunately, to get the attention of those in Washington today requires at least one of two things: 1) big money and/or 2) the voices of millions of Americans speaking out in unison.
As the author of Saving Social Security I have raised my voice in opposition to higher taxes, lower benefits, means testing, privatization or other actions that would undermine the social and/or security aspects of the program. Will you do the same? I'm asking all who share my opposition to make their feelings known to Congress by joining me in a letter-writing campaign.
However, just writing a letter to your representatives telling them that you oppose their ideas on raising taxes, reducing benefits, means testing or privatization won't solve the problems and, therefore, will be ineffective.
To have your voice heard, you need be able to offer Congress viable solutions to the problems as an alternative to their ideas. This is why you need to read Saving Social Security; this report identifies and explains the problems and offers commonsense solutions...solutions that (if you agree with them) you can offer your representatives as viable alternatives.
Call me crazy, but I believe my commonsense solutions can "fix" the system and, in the process, save you thousands of dollars in unnecessary additional taxes and/or lost benefits; money you will lose if you let Washington make the changes they propose. And, at just $5.95 Saving Social Security is certainly a bargain when compared to the costs that Congress wants you to pay for their ideas!
WARNING! If you are under 55 years of age today, the changes being proposed by members of Congress could potentially cost you tens-of-thousands of dollars over your lifetime in unnecessary tax increases and/or benefit reductions.
Saving Social Security provides three simple solutions that, if enacted by Congress, could fix the system permanently and save you money...money that you could use to:
- Retire younger;
- Travel;
- Purchase a vacation home;
- Buy one or more new cars, or a recreational vehicle; or
- Just enjoying doing the things you love to do more often with the people you love.
Social Security is our largest government program and vital to our national economy!
As our largest government program the future of Social Security affects everyone in America; and, because of this, the information and solutions in Saving Social Security are of social importance.
I would love to give you the book for free, but unfortunately just giving something away for free costs money, lots of money...more money than I can afford to give away. Therefore, to keep the costs of getting this information to you low I have now published this valuable report as an eBook and am making it available for only $5.95 to offset expenses.
My friends think I'm crazy to offer the eBook at this price given the fact that I spent well over one hundred hours of my time doing research (gathering, organizing and studying thousands of pages of information in the process) and that the solutions offered can save most Americans thousands of dollars. They say people will pay more just to save the time in getting the information you'll find in this book, but I don't care.
The success of the Social Security program is too important to us all; therefore, my goal is to simply get this information in the hands of as many people as possible without going broke in the process.
We all benefit from a sound Social Security program, but to have that we need to fix the program and that is going to take the help thousands of people like you.
1) Do nothing and let Congress try to fix the program with more tax increases and benefit reductions (they didn't work before, they wonıt work now and will cost you thousands of dollars in the process); or
2) You can get your copy of Saving Social Security, write a letter to your congressional representatives and tell everyone you know to do the same.
Over the last 70 years Social Security has helped millions of Americans enjoy a more comfortable retirement; and, if we "fix" the problems, it can continue to do so for generations to come.
Act now! Don't procrastinate or sit idly by and let Washington take more of your money. Social Security is in trouble; and that means trouble for you, me and all Americans if it's not corrected soon. The politicians in Washington know this, and they're looking for ways to fix it.
Do you really want to pay more and get less as Congress wants you to do, or risk your future retirement on the rise and fall of the stock market like the President proposes? If so, do nothing.
But if you want to avoid an unnecessary tax increase, keep the benefits you have and enjoy greater increases in future benefits you need to tell your congressional representatives not only that it can be done, but that you want them to do it...and Saving Social Security tells you how.
Note...
The longer we wait to correct the problems the fewer options we'll have and the more drastic they'll need to be.
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