On February 20th, Leaders of the National Association for the Advancement of Colored People (NAACP) said that privatizing Social Security would cause a disproportionate and irreparable harm to African American retirees and others who depend on disability and survivor benefits.
"Privatization is another effort to reward wealthy Americans at the expense of working Americans, particularly black working Americans, asking them to play the lottery with their future," Julian Bond, Chairman, NAACP Board of Directors, told about 300 NAACP members who attended the 96th Annual Meeting in New York's Hilton Hotel.
In addition to Social Security, NAACP Interim President & CEO Dennis Hayes said the investigation of the NAACP's tax exempt status continues to be a matter of serious concern. Hayes said: "The IRS challenge is one we have to take seriously because it is something that could affect our ability to carry out our mission. At the same time, I am sure we will be vindicated."
Commenting on President Bush's claim that privatizing Social Security would benefit African Americans because their average lifespan is shorter than whites, Bond said: "It isn't Social Security that's a bad deal for blacks
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