RE: What are the values you would have underlie Social Security

["William J. Burrows" <bill_burrows@amecom.com>]

Since our moderator, Mr. Carlitz has requested that we post our
personal perspective on vales, here goes.

I am a 40 year old engineer who has spent much time studying SS,
writing letters to Congress and the presidents to protest what
I believe is the most unfair, Unconstitutional, and wrongheaded
program ever legislated in US history. I am on the end of the
benefits chain letter, paying taxes that would have been unimaginable
a generation ago. I have seen prevoius generations including my
own granparents reap huge benefit windfalls, having paid little
into the system. What I have already paid would provide a very
comfortable retirement without any additional payment if it had
been invested even in a conservative mix of bonds and stocks. Instead
I have to invest additional money to obtain  retirement. In other
words I have to pay for it twice. I am bitter and realize that
nothing will be done to correct this inequity; nothing can be done
as the money is already gone, paid out fraudulently to those who had
no rightful claim on it. Some writers have said that "we are all in this
togeather". This is a nice platitude conveniently rolled out when
they want someone to pay the bill. If we are so togeather, where
are our equal shares of the wealth? This is not reality.

You want values:

LIBERTY. Where is my right to choose. Why do some people have
a right to pensions or anything else at the expense of others obtaind through
force of the government. There is no such right written in our
Constitution. That is the purpose of a Constitution, to list
the powers surrendered to the government, and to protect the
minority from the tyranny of the majority who so lightly trade their
liberty for some security or finacial gain. Values (including charity)
are personal choices, not to be legislated through government. 

   Since we are stuck with this nightmare, and my protests will go
unheard, I will try to confine the rest to values I would have
underlie this system in order of importance:

1.Individual and Generational Equity. Every person has a right to
expect comparable benefits for comparable contributions. I have proved in
a previous message how earlier generations recieved many times
the value of their contributions and in the future, we will not
even break even. This is unfair. (Fairness, now there is a value
that Americans talk about endlessly and seem to agree about more than
any other, but most will not see the lack of it in SS). A redistributive benefit
formula is wrong. Why is my last dollar worth only one-sixth (15%
vs 90%) of my first. I worked just as hard for it; it means just
as much sacrifice and no one has more right to it.If some people
have not made and saved enough for an adequate retirement, they should
apply for and receive benefits under existing welfare systems. Most
seniors believe they have paid in enough to earn their benefits
(even those paid under SSI) when in fact they have not. This masks
the important relationship between the beneficiaries of charity
and its benefactors. Most retirees are NOT nor have they ever been
poor and living on cat food as the liberal media suggests. As a
group they have more luxury income than any other!

One more thing, This system is broken because tens of millions
of retirees (the great majority) in the past received many times
the earned value of their payments. They would not have received
these amounts on either an earned value or a needs based system
(because they were not poor) but got those benefits on ENTITLEMENT.

2. Participation should be voluntary (See LIBERTY above!) I want
out!

3. Benefits as an earned right (agree with Mr. Ball) but we need
legislation to support this. We are now at the whim of congress.

4. System self financed  (agree with Mr. Ball) but add held in
individual accounts. Let's Privatize the whole thing.

5. Benfits should not be means tested. They should be earned by
taxes paid to the penny.

6. No Cost of Living should be given until and unless the benefit
amount falls below the earned (real) value of payments. We need
legislation, perhaps a Constitutional ammendment to prevent corrupt
politicians from creating inflation by monetizing the debt(the only
reason a 1999 dollar is worth 15% of a 1950 dollar!