Social Security
Hookay, this is a real political hot potato. President Bush is correct, it needs reform. Social Security funds are supposed to a trust fund. There is no trust fund, politicians can't stand having money around that they can't spend. So all the money paid for Social Security goes into the general fund and spent on (oh I don't know, maybe on essential studies such as the sex life of the earth worm). People are starting to say that Social Security is just welfare. If that's true then government and business have been lying to me all my life. Both have told me that Social Security would be a part of my retirement. I paid into Social Security for over forty years, now I'm supposed to feel guilty for collecting it.
Well the last ten years that I worked, I was fortunate to get into a 401K plan. I put ten per cent of wages into it, NO matching funds from my employer. I get twelve hundred dollars a month from Social Security. I get nine hundred dollars a month from my rolled over 401K fund. If I had been able to put half of my Social Security payments into a fund under my control for the forty years that I worked. I would be pretty well off now.
Ok, you say people wouldn't have the resolve to not try to spend it. Just make a 401K fund where you can't get any money out of it until you retire. Just give the people the power to invest in any fund that they want, like I had with my private 401K fund. Also politicians wouldn't have access to it so they could spend it either.
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