09 septiembre 2005

Something all Americans should be concerned about: Social Security

I don't even know where to begin on this topic. First of all, Social Security is not as bad off as the current administration would like us as Americans to believe. Using the word "crisis" is really unfounded. It's like what happened with the Saddam Hussein/Iraq issue, saying that we knew that he had WMDs and that if we didn't get in there and neutralise him, he'd be coming after us.If the administration succeeds in selling the "crisis" of Social Security, the people who will pay won't be the politicians, but us average Joes as we approach retirement. There are so many people who depend on Social Security for all or part of their income after retirement. Privatisation is not the answer. It ties the retirement funds of an individual to the stock market, which is basically what Social Security was set up to avoid. It was created in response to the stock market crash of 1929, which triggered the Great Depression to provide for members of society who were unable to work because of age or disability. What if the market is on a downswing when your retirement comes and you end up with less money than what you started out with? The stock market can be a great source of income for those who choose to invest in that manner. Social Security needs to remain a government-supported system.I've had personal experience with Social Security. It does what it intends: my step-father has been getting a Social Security check for years because of a disability, my mother recently started getting her Social Security check and still working part-time, and finally, I received a monthly check from the time my father died until I graduated from high school. I know that was welcome money in our household at a difficult time and it made things a little easier on my mother so she wasn't worried about making ends meet.And my final thought: what if there's another stock market crash? Do we really want to subject our retirement money to that possibility?My father was alive during the Great Depression, and my mother was born shortly afterward. I know that this had a profound impact on their lives, to this very day. My mother doesn't want to throw anything away. She washes butter tubs and Ziploc bags to reuse them. I think we need to keep the memory of those times alive so we don't end up there again.Here's a link for anyone interested: There is No Crisis