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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (133058)	4/15/2013 6:19:01 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 149317

I gave you the link so you wouldn't have to guess. Here's an EZer one. Why is Social Security so important? Social Security works for all Americans, and it has never been more important to our economic security. Fifty-four million depend on Social Security – 1 out of every 6 people. About 2 out of 3 seniors depend on Social Security for most of their income, and one-third of seniors rely on it for at least 90% of their income. Social Security’s benefits are modest, but vital. The average benefit is about $13,000 a year—less than full-time, minimum-wage work. strengthensocialsecurity.org "The net net is that all of these 90 million are withdrawing Entitlement money from our economy" Nope; the retirees are getting the benefits they earned when they paid money for their old age insurance. Most of them are putting most or all of it right back into the economy, for food and shelter, and all those on Medicare B,C, and D still have taxes taken out B4 they get their check. When $13K is most, or even only 90%, of your income, you aren't gonna stash it in the Cayman's. Perkins became New York’s Industrial Commissioner when Roosevelt became governor in 1929. Later elected president, he called her again to be Secretary of Labor in 1933. She was instrumental in changing women’s work conditions, and established labor laws and innovation now taken for granted: unemployment compensation, the minimum wage, abolition of child labor, the creation of a federal employment service, and “old-age insurance” — created through the Social Security Act of 1935. wharton.upenn.edu " Is that sustainable?" Until they quit earning the interest they get by loaning money to the UST. Remove the cap, and it will outlast my granddaughters. You know they may have loaned the UST my money at 16% in '80-81? For 30 years? Big time interest. Muy bueno. Hope they did.