Tuesday, September 21, 2010

Social Security and FDR’s Grandson

Written : Sep. 14 and 21, 2010

James Roosevelt Jr., a grandson of U.S. President Franklin Delano Roosevelt, appeared on CSPAN on 8/26/10, and spoke at the National Press Club about Social Security. Roosevelt is a staunch defender of the same program his grandfather is credited with starting. He said it’s not in danger [chuckle]. However, he suggested it would be able to provide about 75% of benefits after 2037. To put his comment in perspective, my children will retire (near age 70) around the year 2060, and I want them to receive 100% of what they’ll be owed. The way to pay for it, Roosevelt said, is to raise taxes on everyone across the board with a one percent FICA tax increase on workers and employers, and a higher estate tax on wealthy people. Do you really want more new taxes? I don’t!

FDR’s grandson said the enemies of Social Security want to privatize it, yet he suggested that the fund should be able to invest in private companies (just as many plans do today). James Roosevelt justified his version of privatization by saying that in his plan the risk would be spread over time.

Roosevelt’s predictable positions are full of holes. For example, I am not “an enemy,” and yet I want to allow recipients who are around 20-30 years old now to have the choice to invest their shares in market funds or stocks, as they see fit. They should not be forced into any similar plan, but they should be given a chance to make such a decision. What’s wrong with that? Shouldn’t each person take responsibility for the management of his or her own account? Ah, freedom!

The concern many have over the current Social Security fund is that the huge pile of money has been and is used to pay for other government programs. I don’t think the folks running the U.S. should be using our money in that manner, do you?


Scott Martin #1

Scott Martin #2


Murphy Klasing

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Keywords: Conservatism, Conservative blog, politics, political, Mark Cohen, Mark A. Cohen, From The Left to the Right, James Roosevelt Jr., Social Security, FDR, Franklin Delano Roosevelt, FICA

Keyword Phrases: "Conservatism", "Conservative", "blog", "politics", "political", "Mark Cohen", "Mark A. Cohen", "From The Left to the Right ", “James Roosevelt Jr.”, “Social Security”, “FDR”, “Franklin Delano Roosevelt,” “FICA”

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