I have just read the article wherein Harry Reid warns about the disastrous consequences of private Social Security accounts. Harry and his ilk have been warning that Social Security was in trouble for years, but didn't have the moxie to fix it. In a relatively short time there will be two workers to support each retiree instead of the 13 when the system started. Any idiot can figure out what happens then; bankruptcy or a massive tax increase.
Reid infers that the guaranteed income will not be there. This is untrue, as a person can choose between personal accounts or guaranteed systems. No one is locked into either, and the personal account would only be a small part of the contribution.
I am a retired sea captain. I paid into Social Security for 53 years, mostly the maximum. I retired at 70 with a benefit of about 2 1/5 days' pay. If I had a private account, I could have retired at 60 with full pay.
Reid is more concerned with obstruction of the majority's plans than in governing. What is his fix for the problem?
A.J. STEWART
Gardnerville
Comments
Use the comment form below to begin a discussion about this content.
Sign in to comment