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<p class=MsoNormal><b><font size=2 color=black face="Comic Sans MS"><span
style='font-size:10.0pt;font-family:"Comic Sans MS";color:black;font-weight:
bold'>Yep, I know. We have to live off that retirement money, <st1:City w:st="on"><st1:place
w:st="on">Gary</st1:place></st1:City>. Don’t think Ron’s and my radar isn’t
tuned fully to this situation.<o:p></o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=black face="Comic Sans MS"><span
style='font-size:10.0pt;font-family:"Comic Sans MS";color:black;font-weight:
bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=black face="Comic Sans MS"><span
style='font-size:10.0pt;font-family:"Comic Sans MS";color:black;font-weight:
bold'>Kris<o:p></o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=black face="Comic Sans MS"><span
style='font-size:10.0pt;font-family:"Comic Sans MS";color:black;font-weight:
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<p class=MsoNormal><b><font size=2 face=Tahoma><span style='font-size:10.0pt;
font-family:Tahoma;font-weight:bold'>From:</span></font></b><font size=2
face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma'> Gary Yokie
[mailto:garyyokie@yahoo.com] <br>
<b><span style='font-weight:bold'>Sent:</span></b> Sunday, November 07, 2010
11:49 AM<br>
<b><span style='font-weight:bold'>To:</span></b> 'PAA Discussion List';
graham2639@mindspring.com<br>
<b><span style='font-weight:bold'>Subject:</span></b> Re: [PAA-Discuss] Rick
Perry Proposes Letting States Opt Out of Social Security</span></font><o:p></o:p></p>
</div>
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12.0pt'><o:p> </o:p></span></font></p>
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<p class=MsoNormal><st1:State w:st="on"><st1:place w:st="on"><font size=3
face="Times New Roman"><span style='font-size:12.0pt'>Texas</span></font></st1:place></st1:State>'s
Teachers Retirement System is just such a program. And it's in TROUBLE. State
(school district) employees don't contribute to SS while they're in it, and
Sick Rick let speculators and brokers suck money out of it. It was
market-invested to begin with, but it's even more of a risk now.<br>
<br>
--GY<br>
<br>
--- On <b><span style='font-weight:bold'>Sat, 11/6/10, <st1:PersonName w:st="on">Ron
and Kris Graham</st1:PersonName> <i><span style='font-style:italic'><graham2639@mindspring.com></span></i></span></b>
wrote:<o:p></o:p></p>
<p class=MsoNormal style='margin-bottom:12.0pt'><font size=3
face="Times New Roman"><span style='font-size:12.0pt'><br>
From: <st1:PersonName w:st="on">Ron and Kris Graham</st1:PersonName>
<graham2639@mindspring.com><br>
Subject: [PAA-Discuss] Rick Perry Proposes Letting States Opt Out of Social
Security<br>
To: "'PAA Discussion List'" <discuss@paa-tx.org><br>
Date: Saturday, November 6, 2010, 4:05 PM<o:p></o:p></span></font></p>
<div id=yiv1879395731>
<div>
<h3><b><font size=4 face="Times New Roman"><span style='font-size:13.5pt'>Rick
Perry Proposes Letting States Opt Out of Social Security <o:p></o:p></span></font></b></h3>
<p class=yiv1879395731articledate><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Saturday 06 November 2010<o:p></o:p></span></font></p>
<p class=yiv1879395731jgasm><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><a
href="http://thinkprogress.org/2010/11/06/perry-channels-miller/"
target="_blank">by: Ian Millhiser | <b><span
style='font-weight:bold'>ThinkProgress | Report</span></b></a><o:p></o:p></span></font></p>
<p class=yiv1879395731alignright><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'><br>
Appearing on CNN’s Parker/Spitzer this past week,<a
href="http://thinkprogress.org/2009/04/15/perry-texas-secession/"
target="_blank"> occasionally secessionist</a> Texas Gov. Rick Perry (R)
proposed <a
href="http://www.rawstory.com/rs/2010/11/texas-gov-states-opt-social-security/"
target="_blank">allowing states to opt-out of Social Security:</a><o:p></o:p></span></font></p>
<p class=yiv1879395731rteleft><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>“Here’s what I think would be a very wise thing,” he
began. “In 1981, Matagorda, Brazoria, and <st1:place w:st="on"><st1:PlaceName
w:st="on">Galveston</st1:PlaceName> <st1:PlaceType w:st="on">Counties</st1:PlaceType></st1:place>
all opted out of the Social Security program for their employees. Today,
their program is very, very well-funded and there is no question about
whether it’s going to be funded in the out years. It’s there. That’s an
option out there.”<o:p></o:p></span></font></p>
<p class=yiv1879395731rteleft><strong><b><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>“So, you want to let people opt out?” responded
Spitzer.</span></font></b></strong><o:p></o:p></p>
<p class=yiv1879395731rteleft><strong><b><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>“I think, let the states decide if that’s what’s
best for their cities,”</span></font></b></strong> Perry replied.<o:p></o:p></p>
<p class=yiv1879395731rteleft><strong><b><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>“So the states will let people opt out of Social
Security?”</span></font></b></strong> Spitzer asked<o:p></o:p></p>
<p class=yiv1879395731rteleft><strong><b><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>“They should,” </span></font></b></strong>the
recently reelected <st1:State w:st="on"><st1:place w:st="on">Texas</st1:place></st1:State>
governor said.<o:p></o:p></p>
<p class=yiv1879395731rteleft><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Perry should learn a little history before he raises
up the 1981 experiment as a model for Social Security reform. In that
experiment, three <st1:State w:st="on"><st1:place w:st="on">Texas</st1:place></st1:State>
counties “decided to opt out of Social Security and instead to provide their
public employees with a system of privatized accounts.” But this system left
participants <a href="http://thinkprogress.org/index.php?p=728"
target="_blank">worse off</a> than they would have been under Social
Security.<o:p></o:p></span></font></p>
<p class=yiv1879395731rteleft><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>Moreover, Perry’s proposal closely resembles Alaska
GOP Senate candidate Joe <a
href="http://thinkprogress.org/2010/10/04/miller-minimum-wage/"
target="_blank">“A Noun, a Verb and Unconstitutional”</a> Miller’s <a
href="http://wonkroom.thinkprogress.org/2010/08/31/miller-tenther/"
target="_blank">economically impossible</a> plan for a state takeover of
Social Security and Medicare. A workable plan to allow states to opt out of
Social Security would require draconian provisions, such as a mandate that
everyone must retire in the same state that they worked and paid taxes in.
Otherwise, workers who are too young to receive Social Security benefits
would move to an opt-out state to avoid paying Social Security taxes — and
then promptly move to a state with Social Security benefits the moment they
became eligible. Eventually, the entire system would collapse under the
weight of too many Social Security beneficiaries who had not paid into the
system.<o:p></o:p></span></font></p>
<p class=yiv1879395731rteleft><font size=3 face="Times New Roman"><span
style='font-size:12.0pt'>And this isn’t even the first time this week that
Perry released a completely unworkable idea whose only virtue is that it will
poll well with the Tea Party. Earlier this week, Perry released excerpts from
his forthcoming book that <a
href="http://thinkprogress.org/2010/11/02/perry-sixteenther/" target="_blank">attack
the Constitution </a>for allowing a national income tax and for requiring
senators to be chosen through a radical process known as an “election.” <o:p></o:p></span></font></p>
<p><em><i><font size=3 face="Times New Roman"><span style='font-size:12.0pt'>All
republished content that appears on Truthout has been obtained by permission
or license.</span></font></i></em> <o:p></o:p></p>
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-----Inline Attachment Follows-----<o:p></o:p></span></font></p>
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style='font-size:12.0pt'>---------------<br>
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