Saturday, September 17, 2011

It can't be said better.....

Social Security is not a retirement account, it’s an anti-poverty program that provides some dignity to seniors.
via Balloon Juice... Nicolas Wilbur at Muddy Politics

It is structured as a mandatory personal retirement account with mandatory employer contributions to provide the "Security" part of the name. The funds are husbanded by the government to insulate them from losses that would be incurred along with gains from ordinary private investment accounts. Hence, again, the "Security" part of the name.

The "Social" Part?