Marc Perkel Rantz

United Bankruptcy Preview of Social Security

Letter to the Editor

The United Airlines bankruptcy is a preview of what is going to happen to the Social Security system if Bush gets his way. All these years United was supposed to be paying into the retirement fund for its workers, but now is defaulting on its obligations. The same thing is happening with Social Security. For the last 30 years the baby boomers have been paying in excess Social Security into what is called a "Trust Fund" that Bush jokes is nothing more than an IOU. Our money we paid in is being doled out in tax breaks for the super rich.

Now Bush wants to take our Social Security money and give it away to his crooked stock broker buddies who are going to invest it for us and we are going to trust that it's going to be there when we retire. But as you see more companies dumping their obligations on the tax payers while protecting the investor class it's clear that putting Social Security in Bush's hands would be a huge mistake. The Republican Party is looting the retirement system.