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Vigo Dems host Social Security roundtable(The Tribune-Star Via Acquire Media NewsEdge) Sep. 26--Wabash Valley seniors heard from local Democrat leaders Thursday during an economic roundtable focusing on the issue of Social Security. In response to the growing upheaval in financial markets, former Democratic County chairman Joe Anderson and former Indiana House Majority Leader Fred Bauer staged a forum in the Saratoga restaurant on Wabash Avenue to discuss how Hoosier seniors could be affected by the two presidential candidates' plans with regard to Social Security. Democrats contend that Republican candidate Sen. John McCain has plans to privatize Social Security and deregulate the health care industry. Although there are no detailed descriptions of McCain's Social Security policy on the candidate's Web site (www.johnmccain.com), there have been proposals by Sen. McCain to embrace market-oriented solutions to Social Security and health care. Democratic candidate Sen. Barack Obama, according to Bauer and Anderson, would seek to increase Social Security tax for those making more than $250,000, who currently are not taxed on amounts above $250,000. Obama is staunchly opposed to creating private accounts to help reform Social Security. During Thursday's roundtable, Bauer said, "While honest Hoosiers are worried about their life savings going up in smoke and weathering the worst financial crisis since the Great Depression, the current leadership is turning a deaf ear to the very real concerns of our most valued citizens. I believe that we have a duty to secure the future of our seniors, and find real solutions to leave behind a better Indiana for future generations." Anderson, who led the discussion, said, "I constantly hear from Hoosiers that they are struggling in today's economy, making heartbreaking choices between health care and groceries; between medicine and a tank of gas. If we followed John McCain's plan for our economy, what would we be telling our seniors?" Bill Treadway, chairman of the Vigo County Republican Party, said during a phone interview, "A lot of these plans that both Sen. Obama and Sen. McCain have talked about were before the financial crisis that we've had last week. I'm not sure if either of those gentleman's plans are going to stay intact based upon what's going on." Treadway added, "The essential problem I think that both candidates realize is that we have a whole generation of baby boomers starting to retire, and what are we going to do to make sure that Social Security stays solvent?" Without focusing on either candidate's touted policies, Treadway mentioned that some of the ideas being floated around for Social Security reform include raising the income level cap for charging a Social Security tax as well as the idea of "partial privatization of people's accounts." Treadway said that with the $700 billion bailout being considered in Congress for the nation's banks "plus the money we're spending on the Iraq war, there is going to be an enormous drain on the Treasury, so you're going to really have to do one of two things -- raise taxes or cut spending." He added that Sen. Obama favors new spending but that his proposed taxes do not add up to cover proposed expenditures, whereas Treadway said Sen. McCain favors cutting spending "wherever we can. There's no other way around it." Anderson, during the roundtable, said that during the final weeks of the campaign, issues concerning seniors will be paramount, even considering the current financial crisis. "People are concerned there's not going to be enough money to take care of them," Anderson said. Several seniors at the event chimed in with comments and questions Thursday morning. Social Security recipient Docie Weger said, "I was for Hillary Clinton all the way, until she was out of it ... then I did some research on Obama and I was pleased to find that he is against privatizing Social Security." Dan and Janet Bays, 66 and 65, respectively, also attended Thursday's roundtable. Dan Bays, speaking about the $250,000 income cap for paying Social Security taxes, said, "I believe that anybody that makes over that amount should keep on paying into it. They make the money, they make it in this country, it should stay in this country." One thing that was agreed upon during the event was that most seniors will need some way to supplement their Social Security income. Janet Bays said, "When Social Security started ... it was to help you in your retirement but not to be your whole retirement. I think that's where too many people get the wrong impression ... You have to have something else." Deb Kelly can be reached at (812) 231-4254 or [email protected]. 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