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Politics : Ask Michael Burke
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To: Thomas M. who wrote (84784)11/1/2000 6:37:56 PM
From: Don Lloyd  Read Replies (1) of 132070
 
Tom -

Question to all about the SS:
Someone told me that Bush cited the SS as achieving a 2% return on its investments. Is this accurate(or is it true but misleading)? If so, is there any rational excuse?

There are NO investments, so it can't be true in that sense.

If you compare the benefits paid out to a given recipient to the payroll taxes he and his employer have paid, at some point in time a plus 2% result was undoubtedly correct. Earlier recipients would have had higher 'returns', and many future recipients will never break even.

Regards, Don
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