RE: Values:

[hrongey <hrongey@earthlink.net>]

In response to the comment on retirement age adjustment to 70 years
rather than 65:

	The average age is now about 75 for the population according to
government data bases on life expectancy.  The point I would like to
bring to your attention is that when the retirement age was 65 this gave 
a projected retirement expectancy of 10 years.  To move the retirement 
age to 70 reduces the retirement expectancy to only 5 years which
translates to a 50% reduction in benefits.  Worse yet, the life
expectancy for African American males is not 75 but is 65 years which
means they would have to outlive the life expectancy by 5 years before
they could receive any benefits.  The general attitude of the Soc Sec
Administrators and the US Government is that Social Security is a
welfare program.  I believe there should be a welfare program for the
needy, however, this should not be financed by the social security funds
which I understand is suppose to be an insurance program and I believe
should operate much like an annunity.  The starting point to any reform
in my opinion must start with arriving at a singular term for
money/income.  The present system of the earned income test is folly
indeed; money is money for one to live on no matter where it comes from.
To allow one individual to have unlimited money coming in from
investments and it not impact their social security pension while
another can make as little as $20,000 and lose 100% of their benefits
is very wrong and places an undue burden upon the lower income
individuals in this country.

hrongey@earthlink.net