NC Media Watch

A quest for reason and accuracy in letters to the editor, guest editorials and other issues of interest to the citizens of Western Nevada County.

Wednesday, January 12, 2005

Endangered Social Security?

Marilynn McSeveney is worried about Endangered benefits, letters to the editor, January 12, 2005
President Bush is endangering my retirement and the retirements of my two children and four grandchildren.

Why?
Well, to start with any changes to social security will not impact current workers. The changes will only apply to new workers entering the work force. Marilynn’s Social Security is safe.

Why the changes, because Social Security is a Ponzi scheme. It is a pay-as-you-go program. Taxes from working Americans go directly into the pockets of retired Americans. When the program was launched in the 1930s, there were 11 workers per retiree; today, the ratio is 3-1; in about 20 years, it will be an untenable 2-1.

Now lets suppose that Marilynn’s children and grandchildren are being taxed to insure that she and her neighbors have their full benefits. Will this be fair. No, so that is why the system must be reformed. Now!

Tell me what you think

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