Social Security
March 17th, 2005 | by Todd W |A quick post this morning before my day gets too busy.
Take a few moments and read about Galveston County, Texas, and their success after opting out of the Social Security system.
•Workers making $17,000 a year are expected to receive about 50% more per month on our alternative plan than on Social Security — $1,036 instead of $683.
•Workers making $26,000 a year will make almost double Social Security, $1,500 instead of $853.
•Workers making $51,000 a year will get $3,103 instead of $1,368.
•Workers making $75,000 or more will nearly triple Social Security, $4,540 instead of $1,645.
•Our survivorship benefits pay four times a worker’s annual salary — a minimum of $75,000 to a maximum $215,000 — rather than Social Security’s customary onetime $255 survivorship to a spouse (with no minor children). If the worker dies before retirement, the survivors receive not only the full survivorship but get generous accidental death benefits, too.
The Galveston County case has been well know to people itching for reform. It’s time Bush uses this as the centerpiece example of reform efforts. It isn’t theory. We have a documented test case.
