Open letter to President Obama (Part 480) (Social Security vs. Private Retirement)

Open letter to President Obama (Part 480)

(Emailed to White House on 4-9-13.)

President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500

Dear Mr. President,

I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here. Why not consider reforming Social Security Mr. President?

___________

Social Security vs. Private Retirement

Is Social Security a good retirement plan? Economics professor Antony Davies shows that Americans stand to earn significantly less and assume more risk with Social Security than other investment options. According to Davies, taxpayers would be better off both in terms of financial security and return on investment by investing their money privately. Social security is extremely expensive, soon to be insolvent, and doesn’t even offer taxpayers the most bang for their buck. For those reasons, Prof. Davies argues that it is time for the government to phase out Social Security. Davies’ solution: the government should honor its obligations to current retirees while giving Americans the freedom to invest their money as they see fit.

__________-

The current Social Security system is a ponzi scheme.

A picture says a thousand words, and this Gary Varvel cartoon definitely exposes the government’s Ponzi system.

 

________________

Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your commitment as a father and a husband.

Sincerely,

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733, lowcostsqueegees@yahoo.com

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