Privatization - why the push?
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Ye Olde Editor
Mar 5, 2005, 5:24:38 PM3/5/05
to Social-Secu...@googlegroups.com
It would be easy to blame the push to privatize Social Security on
greedy Wall Street bankers who would gain from a .3% to .7% handling
fee on trillions of pension dollars. However, there is a real
deep-seated mistrust of the system by conservatives, who cannot grasp
why those who contribute much more in dollars to the system, don't
receive a proportionate share of benefits at retirement. There is a
redistribution aspect to all this, when we see earnings at one level
returning only 20% of salary, and lower earnings returning 70%. Is this
fair to employee or employer? Oddly, even a modest contribution should
manage 60% of salary in benefits, and that's without normal taxes. See
www.socialsecurityplan.org
greedy Wall Street bankers who would gain from a .3% to .7% handling
fee on trillions of pension dollars. However, there is a real
deep-seated mistrust of the system by conservatives, who cannot grasp
why those who contribute much more in dollars to the system, don't
receive a proportionate share of benefits at retirement. There is a
redistribution aspect to all this, when we see earnings at one level
returning only 20% of salary, and lower earnings returning 70%. Is this
fair to employee or employer? Oddly, even a modest contribution should
manage 60% of salary in benefits, and that's without normal taxes. See
www.socialsecurityplan.org
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