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Hernando Today
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Social Security Letter Is Fear Mongering At Its Finest
Jim Gries's letter about Social Security is unnecessary fear mongering. Social Security is simply an income transfer program. Workers today pay a tax to support retirees and disabled people. In exchange, workers get the promise that when they retire, a new generation of workers will support them. As Gries notes, the program has a substantial surplus. By law, that surplus is invested in bonds issued by the U.S. government. ...more
August 7, 2008
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