Las Vegas Sun

December 6, 2009

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Letter: Don’t tamper with safety net of average workers

Tuesday, Dec. 21, 2004 | 9:10 a.m.

In any plan to reform Social Security, the president, vice president and our congressional representatives must remember that most Americans are not in the same position when it comes to retirement as they are.

Politicians have always taken care of themselves with fat pension plans and lifetime medical care at the expense of taxpayers. Many of them have become millionaires while in office.

Most taxpayers have to work hard just to make ends meet and often cannot afford the luxury of putting away money for even a minimal retirement plan. The fact that there is a compulsory Social Security System is the only safety net for their retirement years if they are ever able to retire.

Who will take care of the elderly if part of their Social Security contributions are lost through the payment of commissions to stock brokers? Or lost through bad investment advice? Brokers are not going to care what happens to workers once they get their commissions.

If the politicians are so sure their scheme to allow these investments will succeed, then the government should do the investing and assure the workers that they won't lose their money.

GENE OSKO

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