The Most Successful Social Program For Whom?
By Dave Gibson (01/25/05)
Democrats are up in arms over President Bush's rather modest plan for revising Social Security. Conservatives and basically anyone who still works for a living, are overwhelmingly in favor of a privatization of the system. After all, Social Security is going broke. Democrats as well, know the system is doomed. However, 'social programs' are the only thing currently keeping Democrats in office.
Most analyses have concluded that in 15 years, if no changes are applied to the current Social Security system--there will not be one dime available to those entering retirement. We either have to change the way we think about providing for our retirement, or implement a tax increase of Biblical proportion...Not a big surprise which solution those on the left are pushing.
U.S. Senate Minority Leader Harry Reid (D-NV) has proclaimed Social Security to be "the most successful social program in the history of the world." My question is just for whom has the program been successful?
I know at least one person for whom the system was most unsuccessful...My Dad. He began working as a teenager and continued the practice for the next 50 years. Of course, always paying into the Social Security system. He died last April--only four months after receiving his first Social Security check. I am certain that if he was able, he would have a few very colorful comments for Sen. Reid.
As a young man, Dad worked very hard and was always the first in line for overtime. He put himself through college and eventually made a very good living. He created half a dozen companies over his lifetime and provided jobs for many people. When his health deteriorated, he decided to retire. As a reward for all of his hard work and dutiful taxpaying, he was eligible for the maximum monthly Social Security payment (a little over $1,300).
As I said, he died after cashing four of those whopping checks. So what happened to the rest of the money? Save for a one-time $250 death benefit (payable to the taxpayer's family), it is gone. Dad surrendered a hefty portion of his paychecks to our nation's forced retirement system for 50 years. Now that money is gone forever, supporting our ever-growing government. He was every liberal Congressman's 'ideal citizen.'
He paid untold sums into Social Security and reaped a miniscule $5,200. As there is no "lockbox" or "trust fund," all of the money that my Dad forked over to U.S. government--went into the general fund. My hard-working, conservative father paid for welfare, food stamps, Section 8 Housing, and various pork projects for various wealthy politicians.
Fortunately, my Dad had the good sense and business savvy to make other arrangements for my Mom besides pitiable Social Security benefits. He put himself in a position to do so. However, many Americans are not in that position--though they are still forced to contribute into a retirement system which is nearing bankruptcy.
Despite what the Democrats claim, Social Security was never intended to be one's sole source of retirement income. When President Franklin Roosevelt created the system he said: "We shall make the most lasting progress if we recognize that Social Security can furnish only a base upon which each one of our citizens may build his individual security through his own individual efforts."
Unfortunately, too many morally bankrupt politicians have grown Roosevelt's creation, into a blood-sucking monster. The mandatory contributions placed on American workers becomes greater every year. Not only will the current Social Security system fail to provide for most of today's workers, once they are no longer able to work...the system is robbing their families of much needed resources.
If workers were allowed to opt out of Social Security and create their own retirement accounts, this nation would be full of wealthy retirees. More people could build their own personal savings, afford to send their children to private schools, and purchase their own homes. All of those things would improve their lives and eventually provide actual wealth.
Social Security has become much less about providing a decent life for retirees, and much more about keeping entitlement-promising politicians re-elected. The Democrats and many liberal Republicans are trying to back the president away from any real Social Security reform. They are of course, relying on their favorite tactic...fear. They want Americans to believe that turning their money over to private investment firms--will mean that granny will be thrown out into the snow!
Unfortunately for the Democrats, most Americans have become smarter investors. That change has taken place over the last twenty years. Equally as unfortunate, most American workers do not have adequate funds to make meaningful contributions to private investment accounts or even basic savings accounts. Being robbed every two weeks with no hope of ever recovering the money, tends to put people in a bind!
We do not need useless politicians, whose chief concern is holding onto their posh lifestyles (provided by hard-working Americans). No, we need an honest and viable retirement plan. The only way that will ever be achieved is through privatization. In short, we must take control of our own destiny.
If I ever have the opportunity to meet Sen. Harry Reid... I will ask him if he is enjoying my Dad's money?
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