Social Insecurity
I guess we’re still talking about Social Security. George W. Bush is still talking about personal accounts, and the Democrats say we should address solvency issues and forget about personal accounts.
I know people on Social Security. It is a really good deal. Some people get like $1200 per month, guaranteed for life. That is good. You would need something like $300,000 in a personal account to get that kind of return, and it might not be guaranteed. And how many people are going to amass that kind of money in a personal account? You'd have to save $10,000 a year for 30 years to get that kind of nest egg. Who is going to do that?
I’m with the Democrats on this: solve the issues of solvency and leave Social Security alone. The more the President talks, the more it becomes Social Insecurity.
I know people on Social Security. It is a really good deal. Some people get like $1200 per month, guaranteed for life. That is good. You would need something like $300,000 in a personal account to get that kind of return, and it might not be guaranteed. And how many people are going to amass that kind of money in a personal account? You'd have to save $10,000 a year for 30 years to get that kind of nest egg. Who is going to do that?
I’m with the Democrats on this: solve the issues of solvency and leave Social Security alone. The more the President talks, the more it becomes Social Insecurity.
posted by Ed Bremson, MFA @ 10:25 AM
1 Comments:
At 8:02 PM,
Anonymous said…
There are lots of other benefits to social security, including survivors benefits to minors, etc. Keep SS the way it is, just fix it.
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