Social Security Neglect Hurts Most Vulnerable Seniors
Law Professor Dwight Drake, Reader Opinion
special to AgeVenture Syndicated News Service 12-16-04
Social Security is in crisis. That's not news. Here's what is. According to Dwight
Drake, a law professor and author of the book "Gutless Neglect:
America's Biggest Money Crisis", if the neglect of this crisis
continues, middle and low-income Americans
will continue to be the punished victims and any chance for
a real fix to the crisis will be lost.
Over the past
two decades, a payroll tax
accounting gimmick has been used to shift huge government operating
expenses to low and middle-income workers. Not a cent has been saved
to fund the trillions promised to baby boomers.
Drake emphasizes that the real "disaster of continued neglect" is the
lost opportunity to fix America's financial future. He explained, "The
only way to assure all promised Social Security benefits are paid in
full is to start funding the future debt right now.
Our leaders must focus on the crisis before it hits the
boiling point. Otherwise, the only option will be to allocate serious
pain among retired boomers, not a dime of whose promised benefits will
have been funded, and the young of America, who will be staring at
unprecedented tax increases and an unfathomable federal debt.
For more information on the book "Gutless Neglect, American's Biggest
Money Crisis", visit Amazon.com
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