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.
posted by Daily Texican at 7:37 PM
1 Comments:
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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