"basskisser" wrote in message
ps.com...

Doug Kanter wrote:
From "Wait Wait-Don't Tell Me", a weekend NPR radio show:

"This week, President Bush declared Social Security to be part of an
axis of
evil".

Supposed to be comedy, but unfortunately, it's not funny.

Yes, it's a trick right from the fascist playbook. Rule by fear. It
worked for the Nazi's, also.


Worked for Clinton and Gore also. All though the Clinton years, both Bill
and Al were giving warnings about the financial health of Social Security.
In about 2025, the benefits will automatically cut about 28% as the
economics and laws that require benefits paid and income to be in line. You
say you have children. You must hate those kids!!! We, though our
legislators, have been spending all the "SS Trust Fund" money on the
everyday business of government. Most of the so called "surplus" was SS
money. Now you want to really screw your children and grandchildren by
keeping up high benefits and letting them pay for it. Most of us near or in
the age of being able to collect SS have paid a lot less in that we will
take out. For years we paid the 1% of the first $3300 and the company
matched it. How much of an annuity, with life insurance benefits, can you
buy for $660 a year? Presently you get an approximate -0.3% return on your
contributions. Over the last 50+ years, the stock market has returned 8+%.
At least our children will have some money to spend in their "golden years"
if we do change SS. Otherwise the tax rate to fund all of us retirees will
be probably 33% combined for SS. It is a crime to rip off your children
with a Ponzi scheme! If you collect maximum now at 62 and live to 76 you
will collect about $220,000. How much did you pay in? If you collect at 65
you will get about $240k.