Students for Saving Social Security

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January 06, 2006

Look Who Got Published!

S4's Evan Dent, got published in the Red Bluff Daily News, covering California's Tehama County. She points out that if our Congressmen can invest in their retirement, shouldn't we be able to invest in our own?

"This is a letter regarding the Dec. 17, 2005, letter, titled, 'Congressmen do pay into Social Security.' The author of the letter seemed to be implying that congressmen don't get a very good retirement deal as civic servants for the people of the U.S. I would argue that they get a much better deal than anything we have. Indeed, congressmen participate in the Social Security program that the rest of us do, but they also have another retirement program - the Thrift Savings Plan. This is a low-risk, low-cost retirement savings plan for federal employees where participants have their own personal retirement accounts.

The Thrift Savings Plan is a good model that should be used for Social Security reform. It is undeniable, with the demographics factor alone, that the current Social Security system is unsustainable. The American people will be faced with tax increases or benefit decreases unless the rate of return to investment of Social Security taxes can be increased. Why not allow all Americans the choice to participate in a retirement program that allows some of the tax dollars to be put into personal accounts where they can then be invested, creating personal nest-eggs for every working citizen? If the option to invest is good enough for our congressmen, it's good enough for us, right?"

Posted by Chris Schrimpf at January 6, 2006 03:46 PM

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