President Bush's plan to divert a portion of Social Security payroll taxes to private accounts would force huge cuts in benefits to future retirees. It would also cost American taxpayers trillions of dollars to finance.

President Bush claims the Social Security program is going bankrupt. This is simply not true. Social Security will continue to take in more than it pays out, and continue building greater surpluses, until 2018.

After 2018, Social Security will start paying out more each year than it takes in. But, according to Social Security's actuaries, the Social Security Trust Fund will still be sufficient to pay all promised benefits until 2042. What's more, the Congressional Budget Office states that Social Security will have sufficient funds to pay all promised benefits until 2052.

The long-term funding shortfall after 2042 or 2052 can easily be made up through minor adjustments in the financing of Social Security by raising the cap on wages subject to the payroll tax, so wealthy people pay taxes on all of their wages, just like working men and women already do. Or it could repeal President Bush's tax cuts for the rich, and instead use that money to strengthen Social Security.

Please take a moment to send the e-mail below to your legislators. You can edit the message as you like to express your personal views on this important issue.

For more information, visit the UAW's Social Security section.

Sample Letter for Campaign

Dear [ Decision Maker ] ,

I am writing to let you know I oppose any efforts to privatize Social Security.

President Bush's Social Security privatization plan will mean huge cuts in guaranteed benefits and cost American taxpayers trillions of dollars to finance.

I strongly urge you to oppose any proposals that would cut Social Security benefits.

The president's plan to cut guaranteed benefits and risk Social Security dollars in the stock market would be both dangerous and expensive. It is a gamble and a cost that average Americans cannot afford.

The Congressional Budget Office estimates that under a privatized system such as that proposed by Bush's Social Security commission younger workers, would see their Social Security benefits cut by as much as 46 percent. Young workers deserve the same level of benefits and the same retirement security that older workers now receive.

Social Security is not in crisis and is not going bankrupt. These reckless, false claims must be challenged, and I encourage you to do so.

Social Security is a strong, stable program that millions of Americans have paid into and count on now and for their futures. The Congressional Budget Office reports that the program will be able to pay all promised benefits for nearly 50 years. After that, the program's shortfalls could be fixed with minor adjustments, such as raising the cap on wages subject to the payroll tax, so wealthy individuals pay taxes on all their wages, just like working men and women do. Congress also could repeal President Bush's tax cuts for the rich and use this money to strengthen Social Security.

President Bush's plan to privatize Social Security would force the federal government to borrow trillions of dollars to pay for "transition costs." The burden of paying for this huge increase in the national debt would fall to current workers and their children in the form of higher taxes.

I'm counting on you to do the right thing -- preserve Social Security for me, my children and grandchildren, and for all Americans.

I would like you to write me back and let me know your position on this critically important issue.

I look forward to hearing from you soon.

Thank you.

Sincerely,

Campaign Launched:
February 11, 2005