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November 28, 2009

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Letter: Social Security plan too risky

Monday, Oct. 16, 2000 | 10:18 a.m.

This plan sounds very American pie, but take a closer look. The stock market is very volatile, even though the Dow Jones industrial average has grown from 3,400 under President George Bush to the 11,000 range under Bill Clinton. G.W. Bush's plan offers no safety net, and all the 2 percent invested could be lost in a down market.

Under Al Gore's plan, which is "Social Security Plus," he adds government matches and there is no chance of losing one's money in the stock market.

Someone should explain to me why anyone would want to risk even 2 percent under the Bush plan which, at best, one can accumulate $75,000 over 30 years, while Gore's plan is guaranteed and one can accumulate $200,000 over the 30 years. As the holder of an advanced degree in economics, I am puzzled beyond belief that anyone could buy Bush's risky plan.

James J. Poupard

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