2001-07-28 - 23:18 MDT

THE WONDERING JEW

Indecision

Deflation, which happens to me when I suddenly realize that I am not really as knowledgeable on a subject as I think I am and my ego bubble bursts.

Social Security is too complex and too messed up, I think, to be solved in a common sense manner.

I do keep hearing people say, "Give us our money now so that we can invest it." One person said that even putting money into a personal passbook savings would earn more interest than the money that would come when a person retired on Social Security.

It is a very good point. Supremely good point. But it also has possible problems and complications. How can "we the people" (which includes me) feel secure that each person will do exactly that -- put their money in a low interest, secure savings account ?

Our country has a very large proportion of people who are gamblers in one form or another. From the guy who buys twenty dollars worth of lottery tickets and the person who drops a couple of hundred dollars in Vegas. Then we have the big gamblers -- the biggest I can think of is our country's farmers, where every action, every decision is fraught with peril. And regardless, even if the farmer does all the right things at the right time he can still be totally wiped out in a few minutes by frivolous weather. Then there are the many who feel that they can make a bundle by investing their money in risky investments that could give a fabulous return or drop through the bottom.

It is I guess, impossible to accurately forcast the percentage of people who would end up with little or nothing for their efforts at investing. And the question arises, will the taxpayer at that time be willing to pay extra taxes to care for the unwise who have lost too much ?

I think that Jim is right in essence, that if a person invested his money in a secure, low interest investment he would probably end up much more profitably than by relying on straight Social Security. But again, how many people would actually be faithful stewards of their own money ? And again, what would be the answer to their folly ? Should any person who takes Social Security money be required to sign a waiver to any right to relief from any organization when they lose their proverbial shirts ?

My feeble memory tells me that originally Social Security was meant to be a supplemnt to a person's pension. For many people there has been no pension. Even today I do not think that every person working has a vested pension. So for them it is only Social Security and they should pray that they work long enough to realize their full amount.

I was thought to be crazy that I did not retire at age 65. But my line of thought was to work as long as my health would hold up. I retired at age 69 when my corporation offered a buyout with incentives. I could see far enough ahead I feel, to know that the ones left there would have to double up on work and there would be a shakeout and layoffs. By working that extra four years, I receive more than one who retires at 65 PLUS I was earning full wages for those four extra years also. There seemed to be few people that I talked to who could follow my line of reasoning.

I still feel that the Social Security system is one messed up puppy, administered by turkeys and befouled by politicans. I firmly believe that Shrub's Gold Plated Commission on the problem has not even come close to a solution. I am getting weary of people who do have enough expertise to invest wisely and make a good profit feeling that investment is a good solution for all. It just ain't fer everbody.

Treatment of the ailing system does not include quick Over The Counter cures and does not if fact seem to be solvable by a quick anything.

Until such a time that I can come up with observations that are common sense I remain in a state of Indecision . . . . . .

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