(Tucson, AZ, 04/17/2008) – On the eve of the fundraiser for CD 8 candidate Tim Bee, Tucson retirees join the Arizona Alliance for Retired Americans in their concern whether Tim Bee supports privatization of the Social Security system, as his host Steve Forbes does.

When Steve Forbes ran unsuccessfully for president in 1996 and 2000, one of the planks in his platform was to privatize the Social Security system.  After his run, he formed an organization advocating for the privatization of Social Security.  His proposal would’ve diverted billions of dollars from the Social Security system into a risky privatization scheme, and, as part of the plan, cut Social Security benefits for the middle class.   

“Three years ago, the American people resoundingly rejected President Bush’s scheme to privatize Social Security.  Retirees and seniors are paying close attention to where candidates stand on this issue, especially in light of a Wall Street Journal interview where Senator McCain said that he supports President Bush’s proposal, ”said Arizona Alliance for Retired Americans President Doug Hart.  “Under the Steve Forbes-Bush-McCain scheme, our Social Security benefits would be thrown to the whims of the stock market.  We get all the risk, but Wall Street gets all the reward."    

According to 2006 data published by the Social Security Administration, 17,213 Pima County social security beneficiaries and 99,402 statewide beneficiaries would see the monies they worked hard for line the pockets of Wall Street investment firms, under the Forbes privatization plan. 

“As a constituent in CD 8 and a retiree, I’d like to know that the money that I’ve worked hard for will be there when I start collecting Social Security benefits.  I worry whether Tim Bee will be influenced by Steve Forbes’ risky plan to jeopardize my retirement funds,” said Arizona Alliance for Retired Americans Board Member Vikki Marshall.