-Caveat Lector- <A HREF="http://www.ctrl.org/"> </A> -Cui Bono?- ------- Forwarded message follows ------- Date sent: Mon, 07 Feb 2000 09:49:15 -0600 To: [EMAIL PROTECTED] From: "John C. Goodman" <[EMAIL PROTECTED]> Subject: NCPA News Release 2-7-00 FOR IMMEDIATE RELEASE NCPA's Online Calculator Shows What You're Going to Pay & What You're Going To Get From Social Security DALLAS (Feb. 07, 2000) - A new online calculator will allow workers to determine their personal stake in Social Security. The calculator, produced by the National Center for Policy Analysis (NCPA), shows people what they will pay in taxes, what they will receive in benefits, and what they would have received if they had invested the same dollars in a private account. "Find out what you're going to pay and what you're going to get," said NCPA Senior Scholar Dorman Cordell. "For younger workers in particular, the NCPA's calculator is more accurate than any existing calculator, including the estimates of the Social Security Administration." The NCPA calculator -- which can be found at the NCPA's web site, www.ncpa.org - also shows workers how high the payroll tax rate will have to reach by the time of their retirement to pay for Social Security, Medicare and all other senior health benefits promised under current law. Some representative examples: o A 25-year old waitress can expect to pay more than $300,000 (in real terms) in Social Security taxes by the time she retires, but her lifetime benefits will be little more than half that amount. Her monthly Social Security benefit will be $920 in today's dollars, compared to a private pension of $2,303 if her taxes had been invested in stocks and bonds. o A 30-year old steelworker can expect to pay more than $800,000 in Social Security taxes, but will receive lifetime benefits of only one-third that amount. His expected monthly Social Security benefit will be $1,707 compared to $7,229 if he had invested privately. o A 40-year old male bus driver can expect his taxes to be twice his lifetime benefits. His Social Security check will be less than one-forth of a comparable private pension. The payroll tax rate at the time he retires will have to be above 25% to pay all promised Social Security and Medicare benefits. # # # # For more information contact Julie Hillrichs or Sean R. Tuffnell, Dallas, 972/386-6272 Joan Kirby, Washington, 202/628-6671 ________________________________________________________________ National Center for Policy Analysis "Making ideas change the world" http://www.ncpa.org This message is sent by us only to Policy Digest subscribers. If someone forwarded this message to you and you like what you see, please subscribe to this list. To modify your subscription status, please visit: http://www.ncpa.org/subscrib.html If you have any problems or questions, please contact us at: [EMAIL PROTECTED] NCPA is a servicemark of the National Center for Policy Analysis. We are an independent public policy institute and are not affliliated with any other organization, trade association or corportaion. ________________________________________________________________ ------- End of forwarded message ------- A<>E<>R ~~~~~~~~~~~~~~~ Integrity has no need of rules. -Albert Camus (1913-1960) + + + + + + + + + + + + + + + + + + + + + + + + + + + + The only real voyage of discovery consists not in seeking new landscapes but in having new eyes. -Marcel Proust + + + + + + + + + + + + + + + + + + + + + + + + + + + + "Believe nothing, no matter where you read it, or who said it, no matter if I have said it, unless it agrees with your own reason and your common sense." --Buddha + + + + + + + + + + + + + + + + + + + + + + + + + + + + It is preoccupation with possessions, more than anything else, that prevents us from living freely and nobly. -Bertrand Russell + + + + + + + + + + + + + + + + + + + + + + + + + + + + "Everyone has the right...to seek, receive and impart information and ideas through any media and regardless of frontiers." 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