President George W. Bush, his Republican allies in Congress and Big Business want to privatize Social Security, which would destroy the most important family security effort in America's history. Their privatization plans would replace guaranteed benefits with risky private accounts, cut benefits drastically and saddle our children with $2 trillion in debt. Working families are fighting back against Bush's privatization scheme.
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 | 47 MILLION AMERICANS DEPEND ON SOCIAL SECURITY TODAY Since President Franklin D. Roosevelt signed Social Security into law in 1934, millions of American workers have earned benefits by paying into the system, creating a safety net that keeps retirees, survivors of workers who die young and people with disabilities out of poverty.
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 | SOCIAL SECURITY
IS NOT GOING
BROKE Contrary to Bush's scare tactics, Social Security is not going broke. Modest
commonsense measures, such as lifting the cap on the amount of income
taxed for the Social
Security fund, would
strengthen the program. Right now, the cap is set
so low upper-wage earners do not pay Social Security on most of their
incomes.
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MOST RETIREES RELY ON SOCIAL SECURITY
FOR THEIR INCOMES
Percentage of older Americans receiving
Social Security benefits, by relative importance
of benefits to total income |
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SOCIAL SECURITY MORE CRUCIAL THAN EVER AS PENSION COVERAGE FALLS
Employers Cut Back on Pensions
Number of defined-benefit pension plans in the private sector |
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