Different conclusion | TheUnion.com

Different conclusion

In response to Lawrence T. Kinkor’s Other Voices (March 18), I want to thank him for all the facts and figures. Unfortunately, I have to disagree with his conclusion. Here’s a few facts as I see them: First, the Trust Fund that everyone talks about has no money in it, just IOUs. The fact is that they will have to raise taxes immediately in 2018 to pay the benefits owed to the recipients. The interest from the Trust Fund will be paid in current government revenues from that year. Do you believe they will have $3.675 trillion extra just laying around, ready for use for you and me? Second, if you are under 45, it really doesn’t matter if you get your checks or not. Let’s assume the following scenario: $50,000 a year income; 25 years left on mortgage; still have credit card debt that never goes away; less than $200,000 in investments, not equity. Your income at age 65 will have to be at least $100,000 a year with 3 percent inflation, and now you want to retire. How far is that $2,000-$3,000 a month check going to go when you need $8,000 plus continued annual inflation?

Steve Comontofski

Rough and Ready

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