Campaign Unavailable

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.