Here is a link to Congressman Ryan's plan to balance the budget and get the entitlement programs under control.
www.roadmap.republicans.budget.house.gov/uploadedfiles/roadmap2final2.pdf
Save Social Security
Friday, February 12, 2010
Friday, February 5, 2010
Social Security is back in the news.
I note that we are once again to have a debate about Social Security. Good, we need to get serious. The talk now is about the commission which was led by Alan Greenspan in 1983. That commission came up with a "fix" which was adopted by Congress. The fix called for raising the tax, delaying normal retirement age to as late as age 67 and taxing a portion of Social Security benefits. This did not fix the problem, as you know. It merely kicked the can down the road and now we are back in the position of facing insolvency again.
I still believe that a part of the answer is private accounts. I know many will say that the recent stock market meltdown speaks against that but I believe an analysis of the performance of consistent contributions from 1970 to 2010 (a 40 year period) will show that one would be ahead of where Social Security is. This assumes a mix of stocks and bonds. In any event, that has been true historically. Also, getting our tax dollars into accounts which we own would not add to the deficit and would provide something to our heirs.
Save Social Security
I still believe that a part of the answer is private accounts. I know many will say that the recent stock market meltdown speaks against that but I believe an analysis of the performance of consistent contributions from 1970 to 2010 (a 40 year period) will show that one would be ahead of where Social Security is. This assumes a mix of stocks and bonds. In any event, that has been true historically. Also, getting our tax dollars into accounts which we own would not add to the deficit and would provide something to our heirs.
Save Social Security
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