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- Subscribe - Contact Us - Rate Card - Place an Ad Archives Revels Classifieds Real Estate Guide Weather Subscribe Contact Us February 25, 2005 At town hall, Wyden takes heat for Bush's Social Security plan By Damian Mann For the Tidings MEDFORD - Chuck Keil of Ashland has liberal friends and conservative friends. While the sides don't agree on much, Keil told U.S. Sen. Ron Wyden that they have been saying the same thing lately: "Don't privatize Social Security." Keil was one of 100 residents who attended a town hall meeting with Wyden on Thursday. A clear majority disdained President Bush's Social Security proposal. "The crisis in Social Security is no more real than the weapons of mass destruction in Iraq," said Rogue River resident John Miller, who said he lost money in his 401(k) and didn't consider the stock market a reliable retirement safety net. "What are the true motivations behind this pre-emptive strike on Social Security?" he asked. The gathering was the third meeting Wyden has held in the state on the issue. The Portland Democrat agreed with much of his audience. "I don't see how privatizing Social Security addresses the very real challenge at hand," Wyden said. Bush has said Social Security will no longer be sustainable by the middle of this century. He supports the creation of private accounts, in which younger workers could divert a portion of their payroll taxes and invest the money in the stock market. Wyden was sympathetic to most criticisms of the Bush proposal, saying it could cost the country trillions of dollars in order to cover payments to retirees after funds are pulled from the system. Many who spoke offered solutions to stabilize Social Security, including prohibiting borrowing from the fund to subsidize other government programs, investing the surplus money for the future and eliminating a cap that exempts earnings of more than $90,000 from being taxed for the retirement fund. The speakers, often applauded by the audience, said the Bush plan would be a windfall for corporations as potentially trillions of dollars are diverted into private investment. Applegate resident Arlene Aron, who said she, too, had lost money in her 401(k) fund, said, "Never invest in the market more than you can afford to lose." Two of the 39 speakers said the president's proposal was at least worth discussing. Scott Preston, 36, of Central Point said he's been under the impression since he started working that Social Security would be bankrupt before he retires. "My money is going into a black hole that I would never see again," Preston said. But Reeva Bogart of Medford asked what would happen to widowed mothers who have raised their children but never worked outside the home. Under the current Social Security system, they are entitled to benefits. Wyden responded, "That's what I'm so concerned about." Bogart said, "Bush needs to figure it out." She then walked away from the podium in tears. DailyTidings.com Home Page Archives | Revels | Classifieds | Real Estate Guide | Weather | Subscribe | Contact Us Copyright 2005 Ashland Daily Tidings and Ottaway Newspapers All Rights Reserved Slippers Women's & Men's Slippers Ceramic Piggy Banks heloc libor rate Calenders 2005 Calender 2005 Accelerate Weightloss Products Memory Foam Mattress afsa studentloans home equity loans teleconferencing W2 Forms fasa student loans Matchmaking & Dating Scripts African Safari Conference Calls - $50/Month Security Systems student loan consolidation wholesale diamonds Currancy Exchange web conferencing Online Casinos Community Click Here Site Search: .:Advertisements:. RESOURCES - Mail Tribune News - ODOT Road Cams