Social Security recipients collecting their just dues
Robert Samuelson, an op-ed columnist published in The News, continues to lambaste elderly Social Security recipients for collecting their just dues for the work-life payments of Social Security insurance premiums.
Originally, when President Franklin D. Roosevelt succeeded in getting Congress to pass the measure, the program was called Social Security Insurance. For columnists who don’t understand insurance, you pay a present value premium to effect a future value benefit. The program was originally designed to benefit those people who worked and were assessed by the government those premiums. Now, we elderly who worked 30, 40 or some 50 years are being blamed for all its shortcomings, not the career politicians who failed in their duties administering the program.
The program could be “concrete safe” if the premiums would have been invested in money-gaining investments instead of borrowed by these career politicians to pay for every shortfall in the general fund. The program could last forever if restitution was made back into Social Security for all the monies previously squandered.
An ever-increasing population of workers should be capable of sustaining a Social Security Insurance Program, as evidenced by the fact that not many insurance companies go broke.
Daniel S. Kopec