RE: Responses to Moderator's Questions for 5/25 and 5/26

[Michael Jones <powderfinger99@yahoo.com>]

<<<<
The goal of the Social Security program is to replace earnings,
not to accumulate assets. Expanding the objectives of the program
would increase its cost substantially, and it is unclear where the
money would come from to finance the new functions.
>>>>

But, at what cost? It already is a costly program! Most people
will pay far more in contributions then they could ever hope
to get back in benefits. Traditional insurance entails shared
risk, e.g., it might cost 1% of wages to protect against loss
of wages.

The current system we have now it part insurance and part retirement
program. The cost in total is 12.4% of payroll! This is enough
money to buy much better insurance (1%), disability benefits (1%), and
retirement benefits (10%) in the private market.

<<<<
Social Security should continue to be an insurance program that
provides basic coverage for all workers and their families.
>>>>

If the program is JUST insurance, why does it cost so much?
Private market solutions are around 1-2% of wages. This
program is over 12% of wages. 

Perhaps many people on this forum are not concerned about costs
because they speak on behalf of people who do not contribute
towards the program and are only on the receiving end.

Michael