On Wed, 19 Jan 2005 13:26:55 -0600, Kevin Graeme <[EMAIL PROTECTED]> wrote: > Here's one view: > http://www.nytimes.com/2005/01/16/magazine/16SOCIAL.html > > The basic gist of the article is that SS is in less danger than it's > been made out to be.
Regardless of whether or not it's gonna run outta money (gas?), perhaps it's better to look at it this way... Currently an amount equivalent to 12.4% of every American's annual income is being given to the government as Social Security. The funds slowly make their way through an overly bureaucratic and wasteful administration and eventually come out the other end. By the time YOUR dollars come out, a huge portion of every dollar has been siphoned off in administrative costs and government waste. This is YOUR money. Money that's being forcibly taken away from you and given to other people. You have no control over how it's used or who it goes to. Of course this is true of all taxes, but with Social Security it's a little different. Social Security is considered by some to be retirement income. If so, it's the most poorly managed retirement plan in the history of this country. Someone pointed out Enron as an example of why investing your retirement in the market could lead to bad results. What happened to Enron employees? They put all their eggs in one basket, Enron stock. Enron screwed up and everyone got screwed. Social Security puts all the eggs in a different basket, but it's still one basket, and the return on that investment is guaranteed to be horrible. It's historical return is horrible, and it's projected return is horrible. Having a hard time saving even 1% of your income? Maybe it's because the government's taking it all and giving it to other people. -Cameron -- Cameron Childress Sumo Consulting Inc http://www.sumoc.com --- cell: 678.637.5072 aim: cameroncf email: [EMAIL PROTECTED] ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Find out how CFTicket can increase your company's customer support efficiency by 100% http://www.houseoffusion.com/banners/view.cfm?bannerid=49 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:143407 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
