Social insecurity

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

[Tumbleweed_Connection]

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.

[GeronL]

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)

[GeronL]

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.

[anniegetyourgun]

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.

[RiflemanSharpe]

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.

[anniegetyourgun]

All should.