For 50 years we have listened to the Democrats saying “If you vote for the Republicans they will take your Social Security away.” It’s a scare tactic to make sure you vote Democrat.
We must, for future generations, revise/change our current system Privatizing Social Security, as proposed by the Republicans, will work. It will not affect those on S.S. or those now 55 years old.
Consider Galveston County Texas. In l981 county employees opted out of S.S. Employees and employers continued to pay the same amount into a private fund
Today a retiring low income worker making $26,000 yearly. Receives $1,830 from the private fund — his S.S. payment would be $1,007. Nearly $10,000 more annually. A mid-income worker receives $3,600 from the Private fund, just $1,540 from S.S., or nearly $25,000 more per year. Upper-income workers receive $5-6,000 per month from the PRIVATE fund versus $2,500 from S.S. — or $30-40,000 more per year.
The “death benefit” under S.S. is $255. Under the private fund the benefit is four times your last salary up to $215,000.
Wisen up seniors. You’ve been duped by the Democrats for years. What would you do this year with an additional $10,000 or $20,000?