The best, quickest and most efficient way to cure our Social Security shortcomings is to get a bill started to place all politicians on Social Security in 2005.
Perhaps we are asking the wrong questions during election years.
Our senators and Congressional representatives do not pay into Social Security and, of course, they don't collect from it. You see, Social Security benefits were not suitable for persons of their rare elevation in society. They felt they should have a special plan for themselves. So, many years ago they voted in their own benefit plan.
In more recent years, no Congress has felt the need to change it. After all, it is a great plan. For all practical purposes their plan works like this:When they retire, they continue to draw the same pay until they die. Except that it may increase from time to time for cost of living adjustments. For example, former Senator Byrd and Congressman White and their wives may expect to draw $7,800,000, with their wives drawing $275,000 during the last years of their lives.
This is calculated on an average life span of those two dignitaries. Younger dignitaries who retire at an early age, will receive much more during the rest of their lives. Their cost for this excellent plan is nothing.
This little perk they voted for themselves is free to them. You and I pick up the tab for this plan. The money for this fine retirement plan come directly from the general fund -- Our tax dollars at work!From our own Social Security plan, which you and I pay (or have paid) into, every payday until we retire (this amount is matched by employer) we can get an average of $1,000 per month after retirement. In other words, we would have to collect our average monthly benefit for 68.1 years to match Senator Bill Bradley's benefits.
Social Security could be very good if only two small changes were made.
- Jerk the Golden Fleece Retirement Plan out from under our Congressional leaders and put them into the Social Security plan with the rest of us -- then sit back and watch how fast they would fix it .
- Pass a law that would require any and all funds borrowed from the Social Security Trust Fund to be replaced with interest.
Russ Ricca, Payson