Social Security

A Republican's opinion on Bush's Social Security plan

After I posted this, I asked a good friend to give me his thoughts. He did:

Several thoughts to this issue, first if this individual dies at age 65 their surviving relatives inherit their $99,800, under current plan account holder's survivors inherit nothing! 4% annually is unheard of in the stock market, even with conservative to moderate growth funds the 30-40 year average is nearly 10%, just ask any financial advisor! As far as paying the remaining 2.25% in traditional SS tax but not recieving any traditional benefit, the statment here is misleading! You would still be elegible for some portion of the traditional benefits just not as much a the person who opted out of the Private account, but who cares! You recieve an annuity pmt which is approximately 25% greater than the 78K others would have contributed to the current plan! This is still far better for any worker under 55 than the current system!

During long conversation in his driveway the other night, my friend and I discussed the differences in our thinking. I am a pessimist, and I deplore compromise as the surrender of a moral or intellectual value, whereas he is more of an optimist (F*%^#ng optimists...), and willing to compromise on these issues, so long as the compromise is in the right direction.

The idea of compromise ("Hey, it's a step in the right direction.") vs. non-compromise ("In any compromise between good and evil, evil always wins.") can be debated until the Lord returns, but I think at the end of the night, we both saw the values of the other's opinion.

This Social Security plan, as I see it now, is less than a step: more of a nudge--and a small nudge, at that. But I guess it's the right direction...