GOP lusts to privatize [Social Security]

Boston Globe Online | December 4, 2002 | Robert Kuttner

[inquest]

That's right. They need it for the masts of their ships!

[Henrietta]

Are you saying I won't see a dime of my SS because I will have an income greater than $20k a year? Between my wife and me (this includes our employer's contributions), we've ponied up $350k to the SS "trust" fund.

Yep, that's exactly what I'm saying.

[dark_lord]

Yes - what she suggests is that if you have actually worked for most of your life in this country, and paid into SS, and saved part of what you earned so that you will have income after you retire,you will get squat.

Alternatively, if you work and spend all your money as soon as you get it, buy lots of stuff, send your kids to expensive colleges, and then stiff your creditors, and when you retire you own a pile of stuff but have no income at all - then you get to mooch off SS in your big house with your SUVs, boat, and RV.

That's a great plan. NOT!