RE: Social Security Works

[Michael Jones <powderfingre99@yahoo.com>]

<<<<
The truth is Social Security works today, and it will work
in the future.
>>>>

Mr. Nadler and other members of Congress:

Why doesn't the Congress lay out all the real problems
confronting the SS system? Responses such as Mr. Nadler's do
not help the current debate.

The unfunded obligations are huge. I don't see how Mr. Nadler's
proposal or any of the other proposals address the long term 
obligations. 

* Why not just admit that this problem cannot be solved 
without drastic changes, none of which you are willing
to consider?
* Why not just admit that this program is in fact a welfare program.
* Why not just admit that my payroll tax is nothing more than an 
additional income tax?
* Why not just admit that young workers can never expect a 
benefit unless they are poor and low income?
* Why not just admit that the Trust Fund is in fact just a large
unfunded obligation which does not help the system.
* Why not just admit that the excess payroll taxes collected
over the past 16 years have actually made the long term obligations
larger?
* Why not just admit that you don't care because young people
don't vote?

If these proposals are the best that we can do, I don't want to
be working about 10 years from now when the system will start 
calling in its bonds. You will be coming back to me in
10-15 years for more taxes to pay for these unfunded obligations.
(How about trying a novel approach, for a change: cut other 
spending).

The increased tax burden will make it more difficult for me to
save. Whatever I do save will then likely be used against me
when the benefits of the future are fully means tested. I figure
by the time I retire, anyone with an IRA or 401K probably won't
get anything, since they will be targeted as being "rich".

This is the Social Security system of the future.
 
Michael