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Dave Brownlow on Social Security |
A: DO SUPPORT--we need to honor our commitment to current retirees, but there is no reason we have to saddle our young workers with the same bill of goods the baby boomers were sold.
Question for the retired folks: After a lifetime of putting 15% of your income into Social Security, would you rather have several million dollars deposited in a bank account with your name on it, or would you rather wait for the government to send you a $1,000 check each month and then hope for an increase of 1-2% a year? Even a bank deposit would have dramatically outperformed your Social Security "investment". Let's not saddle our children with the same Ponzi scheme we were sold.
The solution to the Social Security mess is to let all current workers opt completely out of the system by collecting all the money they and their employers have paid in to the "Social Security Trust Fund." (Don't hold your breath.)
