AJ Ericksen's Blog World

Saturday, April 30

A Festivus Miracle!

I couldn't believe it when I saw it. But on the editorial page of the New York Times this morning I found what seems like some praise for Bush's stance on Social Security reform and some criticism for Democrats clinging to a system that doesn't work:
It's true, as Democrats love to point out, that the poverty rate among the elderly has declined from 35 percent a half-century ago to 10 percent today. But when you consider how much money is being taken out of Americans' paychecks - most workers now pay more to Social Security than to the I.R.S. - you're entitled to wonder why there are any poor widows remaining.

As a poverty-fighting program, Social Security is woefully inefficient because most of the money goes to people who aren't poor. It would take just 20 percent of what Social Security dispenses to move every elderly American out of poverty . . . .

1 Comments:

  • I would gladly give up any future SS benefits for an across the board 50% cut in SS deductions. People my age are in a good position to start saving for retirement, and rolling that 50% into additional savings would more than make up for any missed future benefits.

    By Blogger Torry, at 5/02/2005 11:50 AM  

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