{"id":33487,"date":"2011-01-19T14:57:41","date_gmt":"2011-01-19T19:57:41","guid":{"rendered":"http:\/\/planetwaves.net\/news\/?p=33487"},"modified":"2011-06-03T16:49:25","modified_gmt":"2011-06-03T20:49:25","slug":"defending-social-security-a-survival-imperative","status":"publish","type":"post","link":"https:\/\/planetwaves.net\/news\/daily-astrology\/defending-social-security-a-survival-imperative\/","title":{"rendered":"Defending Social Security — A Survival Imperative"},"content":{"rendered":"

by Carol Van Strum<\/em><\/strong><\/p>\n

Attacks on Social Security promote several huge misconceptions. For one thing, they present Social Security benefits as a drain on government funds for other programs. This is patently untrue. Social Security funds are paid by wage earners into a special trust fund, and all benefits are paid from that trust fund. Money paid in by wage earners is therefore held in trust for their later needs; use of that money to fund any other government endeavor effectively constitutes embezzlement.<\/p>\n

Further, attackers portray the Social Security program as solely a retirement benefits program, and therefore solely a \u201csenior\u201d issue. This is a dangerous fallacy. The Social Security program is much more than a retirement fund; it also provides insurance against disability and death. Replacing its functions would cost far more money than people currently invest in such insurance. Also, Social Security does not terminate coverage when you are no longer a \u201cgood risk,\u201d whereas if you are self-employed, you can pay into a private disability policy for years without ever making a claim, only to see your \u201cinvestment\u201d disappear overnight when the insurer suddenly cancels the policy.<\/p>\n

Those who would eliminate or privatize Social Security need to answer some crucial questions about the consequences of such proposals. Below are examples of its provisions and questions we need to ask — over and over — of those who would weaken or eliminate Social Security:<\/p>\n

SURVIVOR’S BENEFITS<\/strong><\/p>\n

Social Security is a multi-faceted program: it’s not just an investment\/trust fund for retirement benefits. What you pay in via your FICA (Federal Insurance Contributions Act) taxes goes into several programs: one of them is a kind of life insurance program.<\/p>\n

<\/p>\n

If you die “fully insured,” then a small death benefit is paid. In addition, surviving members of your immediate family may be entitled to benefits from your wage earner’s record. Your children — including children you have adopted and even step-children under certain conditions — will be entitled to a monthly benefit until each child turns 18 (19 if the child doesn’t complete high school until age 19). A child who becomes disabled before age 22 may be entitled to disabled adult child benefits — for as long as the child is disabled or until he\/she marries (entitlement to benefits continues if the disabled child marries another disabled person). Your surviving spouse may be entitled to a parent’s benefits as long as she\/he is caring for a child (yours) under 16.<\/p>\n

What your dependents receive depends on how much you paid in; you can see how much the monthly amounts would be by reviewing the earnings report Social Security mails to you annually.<\/p>\n

Check your earnings report, see how much your dependents would receive. Now figure out how much life insurance you’d have to buy — and your spouse would have to invest — to yield the same amount of monthly income. Quite a bit of money, isn’t it? Social Security’s trust fund is a safer investment than most. Don’t agree? Then figure out which state and municipal pension funds are in BETTER shape, and see how corporate pension funds are doing. Not the ones for upper upper management, but for the majority of employees.<\/p>\n