Social Security Follow-Up
Based on the comments received and the discussion that has ensued, regarding the Odd Couple Blog Project Bob Turek and I participated in at the Business Channel, I realize Social Security, and the possibility of it’s running out, is a complex issue. There isn’t an easy solution that satisfies everyone.
You’re also likely to hear more about it as the presidential hopefuls vie for the vote and try to slant their platforms to appeal to the most people. Sometimes their suggestions are designed to sound good and guarantee votes, but not for the greater, long term good. Sometimes their solutions are at opposite ends of the spectrum, as Bob points out in his post.
A number of views were presented on Bob Turek’s Project Management 411 blog post, Counting on Social Security?, and mine, Social Security and the Home Business Owner, here Home Biz Notes, as we discussed the topic for our Odd Couple Project and commenters joined in. These are some of the ideas that came up in the exchange.
- It was interesting, too, that Ren mentioned there is a similar problem in the Philippines with Social Security looking at a shortfall. He said that family groups helping one another does ease the problem a bit there.
- Getting a good education doesn’t necessarily mean a well-paying job in today’s economy. Many college graduates are working at minimum wage jobs. Nor does education ensure that employees would make good decisions involving a retirement plan.
- Privatizing, if it means everyone investing for oneself, doesn’t work either, because many people can’t or won’t discipline themselves. Yet do we continually want the government to make these decisions for us?
- Aren’t many government employees and officials exempt from paying into Social Security (and receiving it) because there is a separate retirement (usually better than Social Security) set up for them?
- Social Security wasn’t meant as a retirement program…only a stopgap. And wasn’t it originally intended only for a specific number of years, but has run far longer?
Possibly, with the uncertainty of Social Security looming in the future, it’s well to alert people that they need to begin thinking of other ways to supplement or set up for retirement and emergencies.
What ideas do you have to share about Social Security or “social insecurity,” as some people refer to it?
(c)2008 Mary Emma AllenTags: b5media, b5media-business-channel, Bob-Turek, ProjectManagement411, Social-Security