Posted by
Georgiaboy on Sunday, September 17, 2006 7:57:42 PM
After President Bush's unsuccessful attempt to get Congress to pass a Social Security Reform bill, it appears as though the issue has been somewhat dead lately. That is understandable considering that nothing was able to be worked out and we still have the same Congress. But, I have my entire working life ahead of me to pay SS taxes into a failed system and I am not about to give up.
There really is no contest between the status quo and a reform plan built around personal accounts. The stock market has never lost money over a 30 year period and if balanced by bonds and fixed income investments, personal accounts are not in danger of leaving people bankrupt. If you are a young person, you can get 30+% more retirement money through retirement accounts. If you are old, your grandkids can get more money without endangering your benefits. If you are black, social security is ripping you off. The average black male dies right around the time he would begin to draw his social security benefits. Black females don't make it much longer.
But even if personal accounts didn't give you so much more money through the power of compound interest, we should switch to them because of liberty. Freedom means taking care of yourself, not getting a check from the government. It is a cowardly, slavish existance to depend on the government to take care of you when you are old. How much better it is to have spent your young life amassing wealth and when you retire you know, "This is my money. I worked and it is mine." And when you die you can pass on your money to your children to make their lives more comfortable. Liberalism, what have you done to America to deny it this breath of freedom? Wake up America, let's get a reform bill passed before it is too late.