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Social insecurity
Waashington Times ^ | 10/23/03 | Eileen Alt Powell

Posted on 10/25/2003 5:53:35 AM PDT by Tumbleweed_Connection

Edited on 07/12/2004 4:09:42 PM PDT by Jim Robinson. [history]

For seniors like Harry Thaw, the planned 2.1 percent increase in Social Security benefits next year probably won't make life much easier.

Mr. Thaw, 78, a retired handyman, stops almost daily at the city-subsidized Encore Senior Center in midtown Manhattan for the hot lunch, which costs $1. Every increase in the rent on his apartment means less for other things, like food and clothes, he said. Though he is not ill now, rising drug prices scare him.


(Excerpt) Read more at washtimes.com ...


TOPICS: Culture/Society
KEYWORDS: socialsecurity; socsecurity
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To: anniegetyourgun
If social security had been a private system with its own 'banks', most seniors would have retured millionaires. Why would a liberal want that?? =o)
21 posted on 10/26/2003 6:07:21 PM PST by GeronL (Please visit www.geocities.com/geronl)
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To: anniegetyourgun
Just think what her deceased husband could have done with his hard-earned income over his decades of work if he had been able to take those SS taxes and invest them in the company pension plan

Company plan or a competing 'pension bank'. Companies have been known to skim off retirement accounts, imagine competing pension banks whose interest is in..well.. higher interest for accounts.

22 posted on 10/26/2003 6:09:41 PM PST by GeronL (Please visit www.geocities.com/geronl)
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To: GeronL
While there are those exceptions of fraud and theft in the company pension plans (and even more examples of union pension absconding), it's not been the norm. I think it will be less so with the changes the prez stumped for and got passed congress in last session.

But, the bottom line that we agree on = SS is a BAD investment.

23 posted on 10/27/2003 6:42:09 AM PST by anniegetyourgun
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To: Piquaboy
SS is nothing more then a government run ponzi scheme. My wife and I are planning for retirement with the supposition that it will not be there.
24 posted on 10/27/2003 6:45:09 AM PST by RiflemanSharpe (An American for a more socially and fiscally conservation America!)
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To: RiflemanSharpe
All should.
25 posted on 10/27/2003 6:46:49 AM PST by anniegetyourgun
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