Social Security Facts - #5:

PERSONAL ACCOUNTS are the appropriate way to ease the future CRISIS (yes, CRISIS, everyone will agree there is a crisis coming - it is only a question of when).

Let people put a part of their deductions into PERSONAL ACCOUNTS (I like 1/2, the 6.2% that we all put in from our paycheck) and REDUCE the future committments on the Government. Phase it in over the next 5 DECADES, with all people under 55 years participating, so that Government payments would be reduced proportionately until the 20 year olds of today get 1/2 of what would have been the Government portion when they retire and they are responsible for the other 1/2 (or 1/2+ if history holds true - a win-win for all!).

Then we would all understand that the Social Security Program is simply a welfare program for the elderly to which we all contribute 6.2% of our income, and guarantees a minimum income - 1/2 of what it is today. That is what it was meant to be - a SUPPLEMENTAL INCOME to insure survival in retirement. It has the advantage of putting the responsibility back where it belongs - with the PEOPLE!