More on social security

In case you're interested, here are a couple clippings I've been thinking about regarding social security. First, from Talking Points Memo a very good point about how social security is insurance. You can save for retirement, but you don't know how long you'll live. If you end up living to 120, will you have enough to pay for it? But Social Security will still be there. Not so if Social Security is privatized-- then you'll only have what money has been accumulated in your private account.

Second, slacktivist discusses more of the history of Social Security, and how Reagan and Greenspan worked to save it. They increased payroll taxes above what was needed, in order to create a Social Security fund that could be used when the baby boomers retire. Of course, the government has been borrowing every penny of this fund, and will need to start paying it back in a few years. Bush wants to forget about all that money that's owed into the fund and start over again with private accounts. That means the first $87K of everyone's income has been taxed at a higher rate than the rest FOR NO REASON.* If a "do-over" happens we won't get that extra tax back. For Bill Gates and George Bush that doesn't amount to much, but if you make less than $87K, it should matter to you. You've been paying extra taxes for the past 20 years. For no reason. I don't know about you, but I want back every penny of my payroll tax that didn't go directly into Social Security checks for the elderly.

*After the first $87K there is no payroll tax, so the wealthy pay a smaller percentage of their income to Social Security. When tax burdens are calculated Social Security tax is not included, because it is something you are expected to get back eventually.

Those pesky bloggers

Cool! The bill to criminalize miscarriages has been withdrawn. It seems that Cosgrove, the lawmaker who introduced the bill, received more than 500 e-mail from concerned citizens-- and where did all those people hear about the bill? From bloggers.

“I’ve never been blogged before,” he said. “The tone of the e-mails has been disgusting. It’s, 'You’re a horrible person. You ought to be crucified.’ And those were the nice ones.”

Commando

This is why I read slate.com. One of the latest articles on the site "Do Commandos go commando?" is very informative.

"Many commandos do forgo underpants when they suit up in the field, but the practice is by no means limited to the special forces."

Come on, I know I've peaked your curiosity...

Social security

Well, I've been fairly skeptical that social security will even exist by the time I retire, so why should I care one way or another about privatization? Well, the more I read, the more I think that this "crisis" is another deception. Today's Talking Points Memo points out that the social security shortfall over the next 75 years will be $3.7 trillion (Yikes!) But when you compare that to the $8.1 trillion that the new medicare drug plan will cost over the next 75 years, and the $11.6 trillion that Bush's tax cuts will cost over the next 75 years, it starts to seem like social security isn't the program to worry about...

Better solar cells

Here's a story about the advancements in solar cell technology.

"The discovery could lead to shirts and sweaters capable of recharging our cellphones and other wireless devices, said Ted Sargent, professor of electrical and computer engineering at the university."

...

"Sargent said the new plastic composite is, in layman's terms, a layer of film that "catches'' solar energy. He said the film can be applied to any device, much like paint is coated on a wall."

...

"The film can convert up to 30 per cent of the sun's power into usable, electrical energy. Today's best plastic solar cells capture only about six per cent."

Cool!

Adoption rights

The U.S. Supreme Court refused an appeal for gays who have been denied the right to adopt in Florida. In other news, Israeli courts ruled that a lesbian couple will be allowed to adopt each other's children (which were all born during the time they've been together). They've been fighting this case since 1997.

Virginia is for haters

Boy am I glad I no longer live in Virginia. Let's hope Colorado doesn't follow in the same path any time soon.

Media bias

Great quote that reflects on the so-called "liberal" media bias.