Soc Security is insurance not to be gambled with
With all the recent hoopla over reform, Mr. Logue, a Massachusetts
Institute of Technology graduate, decided to go back and check his own
records. Would he have done better investing his money than the
bureaucrats at the Social Security Administration?
He recorded all the payroll taxes he paid into the system (including
the matching amount from his employer), tracked down the return the
Social Security Trust Fund earned for each of the 45 years, and then
compared the result with what he would have gotten had he been able to
invest the same amount of payroll tax money over the same period in
the Dow Jones Industrial Average (including dividends).
To his surprise, the Social Security investment won out: $261,372
versus $255,499, a difference of $5,873! ...
Under Britain's privatized pension system, so many retirees are doing
so poorly at this moment that a commission warned this fall that
widespread poverty among the elderly may be returning, which could
require massive new government spending.
*Social Security is insurance that protects our citizens. It's not
capital that grows by exposing it to market risk*
(Editor’s Note: Too bad that Government Officials couldn’t keep their
hands out of the pot that was holding the Social Security monies that
were supposed to be paid out to those that paid into it.)
__________________________________
Carol
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little."
Franklin Roosevelt, in his second Inaugural Address
U S Legacies Magazine January 2003
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