I'm going to dribble this quote out for full effect. Yes, this is another one of those Bush's-plan-to-"save"-Social Security-is-a-steaming-pile-of-crap posts. The quote is from an article in the Washington Post.
"If a worker sets aside $1,000 a year for 40 years, and earns 4 percent annually on investments, the account would grow to $99,800 in today's dollars..."
Ok, so that doesn't sound like all that much, especially if that money is supposed to last what, 10-20 years? It gets better, though. Just read on:
"...but the government would keep $78,700 -- or about 80 percent of the account. The remainder, $21,100, would be the worker's."
Wow. So after putting in $40,000 you get back just over $21,100. Sounds like a great plan, doesn't it? I know I personally can't wait to piss away my hard earned money so that I can live like a pauper in my golden years. Just how dumb does this son of a bitch think we are?
Oh, and just for the record-- there is no crisis.
Posted by Jason at February 3, 2005 09:19 AM