Re: Values

[National Dialogue Moderator <moderator>]

A "floor of economic protection" would provide -- as does Social
Security -- benefits for all persons subject to the risk involved
(e.g., old-age retirement), although with relatively larger benefits
for low-income persons than for high-income persons.  A "safety
net" would provide -- as does public assistance -- benefits only
for persons in dire need.  If we had only a safety net, the
disadvantage would be that many persons would not save or desire
a pension from their employer, beause this would only result in a
corespondingly smaller safety-net payment.  With Social Security,
only about 10 percent of persons have incomes below the poverty
level, and about half of them receive safety-net payments through
public assistance.  Without social security, about 50 percent of
persons would have incomes below the poverty level, and most of
them would need safety-net payments through public assistance.


Bob Myers