|
|
|
Who's Against Social Security? |
|
|
|
| |
Why can't I get more from Social Security?
Social Security has a large debt from the past. Current revenue must pay that past debt. Starting in 1940, Social Security paid more to those who retired after the Great Depression than they had contributed. In effect they received a high rate of interest. Then it also paid more to those who lived through the Depression and World War II. Without this, millions would have retired in poverty.
Now Social Security must partially pay back those who funded those who came before. The only way to avoid this would be to cancel benefits that have already been paid for from the pay checks of today's workers and retirees. Private accounts won't be the great deal they are claimed to be, unless we cancel benefits already paid for. And that's what the privatizers are talking about when they say Congress and the President won't honor the Trust Fund.
|
|
http://zfacts.com/p/485.html | 01/18/12 07:18 GMT
Modified: Mon, 17 Apr 2006 05:43:55 GMT
|
