Charlotte Twight's book, Dependent on D.C.: The Rise of Federal Control Over The Lives of Ordinary Americans, is important because it opens the eyes of readers. For instance, she writes about economist Martin Feldstein's calclulations on Social Security, which we all suspect won't allow any of us to retire with dignity. According to his calculations, "through private investment a worker could obtain the return historically achieved under Social Security for only 21% of the tax price he pays under the current system, 'allowing the 12-percent Social Security tax rate to be replaced by a 2.5% contribution.' In his judgment, 'the remaining 9.5% excess mandatory contribution is a real tax for which the individual gets nothing in return.'"
Ever wonder what the government does with the rest of the money in the fund? Oh, that's right, there is no fund. Any excess would go to: empire?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment