Democrats SOCIAL SECURITY CALCULATOR under PRESIDENT'S PLAN

Senate Democrats ^ | unknown | Senate Democrats

[goodnesswins]

I was wandering the Web and came across this.....anyone else seen this? Can anyone debunk or certify it as correct?

http://democrats.senate.gov/ss/calc.html

Try it out.....you put in your salary, and then it calculates what you'd get under the President's Plan.

[SunnyD1182]

This calculator has been shredded apart all over the place. It's totally fraudulent and based on assumptions that are totally unrealistic. I did a very thorough debunking of it in my blog a few months ago, here it is:

http://www.livejournal.com/users/ssidhu82/86356.html

It only goes to show how low Democrats will go to dupe the public into supporting their ill-advised programs.

[happydogx2]

The amount presented under the privatization is bogus.

[patton]

Oh. look. I am going to loose $4099.00 a year of non-existent monies. Ow, woe is me.

Pardon, dude, but I ain't never going to collect a dime from this silly ponzi scheme - I could car less how you arrange the dang deck chairs.

Borne in '62, for all you xser that think you are paying the bills. Liars.

[Prodn2000]

From your link.... The fuzzy math is clearly evident, but only to those who have been studying Social Security reform and the potential returns of personal retirement account investments. You see, a rate of return of 3% may seem like a lot, but in reality, it is nothing; in fact, it is the same return that Social Security in itself gets, under the current system. Why? Because Social Security's trust fund is already invested in government treasury bonds, which gets an average yield of 3%. Therefore, if you were to invest your personal retirement account entirely in government bonds, you would get this very same 3%.
From the Dems site.... The calculator assumes that your investments get a rate of return of percent above inflation, the same assumption used by the CBO for its Social Security analysis... The rate of return is also adjusted to reflect an annual administrative cost of 0.3 percent. The actual value of your account could be higher or lower than that shown here depending on how your investments perform.
You seemed to forget that the average annual rate of inflation for the last ten years was 2.22%. This would give the democrats calculator an annual rate of return 5.22% not the measly 3% that you suggested.

[SunnyD1182]

When dealing with rates of return in this debate, inflation is often assumed, so it's not mentioned as part of the rate of return of a particular program. You're right, 5.22 or so would be the overall rate, but then we'd also have to boost all of the rates of return under the Bush plan by the same 2.22%, creating the same difference between the two plans. This is why I later mention that the Bush plan should return 4.6% as an extremely conservative figure- it would actually be around 6.8% if you counted the inflation.

[BenLurkin]

Is it bunk?


Well, let's jsut say . . ."Consider the Source" . .