Ojo: The "Cholo Word Of The Day" is simply for fun. This is not an academic exercise, therefore I do not spend much time checking for espelling or grammatical errors. Most of the words are not only used by "cholos," but by many people in S. Texas - and their usage can vary. c/s

Thursday, February 17, 2005

Social Security Calculator

Hey, check out this social security calculator.

Senator Harry Reid is leading the fight against President Bush's social security plan to the Internet.

Senator Reid and other congressional democrats Thursday unveiled an online calculator, which he says shows that people's benefits will get cut.

Democrats demonstrated the calculator profiling a 50-year-old man making $40,000 a year to calculate benefits.

"This person would have gotten $18,308 under the present system. How much would he get under the Bush plan? (He would get) $17,013. That means he loses $1,295 dollars," explained Charles Schumer (D) New York.

The Republican National Committee says the calculator is misleading because it doesn't take into account the impact on benefits if the problems with social security are ignored.

1 Comments:

Anonymous Gringo Salado said...

It looks like the Senator's calculator assumes the privatized portion will be invested in Treasuries, and not the equity market.

As far as I'm concerned this ignores the main point of private accounts, which is their ability to take advantage of the equity premium to get a better return than that earned by the Trust Fund.

Or something like that.

Me gusto su blog ese.

11:41 PM

 

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