From Ken Mallas
Editor’s note: This is the second of a two-part letter to the editor written by Ken Mallas.
I will discuss one area with you – Social Security. Your comments lead me to believe you have little knowledge of Social Security. Some of my comments.
1. Actually, there is no money in this account or in the bank. It has all been spent by our government. What we have is a piece of paper not worth the paper it is written on. There is no money to back it up. The government owes $2.7 trillion to Social Security, and we allowed it to happen. We are to blame. Our government is not only very smart but they are taking advantage of us by the law they have written. Would they ever do it to themselves? Absolutely not. Should a private company do this to their employees, they would be in prison. However, our government knows exactly what they are doing. We are not very smart when we allow it to happen? Our government does not earn anymoney. Where are they going to get back our money that they have spent?
Because of this, we, the people are left holding an empty bag. To refill this empty bag, each of us must now repay both the principal and the interest earned on the principal. How dumb is that. We’re not very smart. We allow them to collect our Social Security twice and the interest once. When an individual comes up with a plan where we now owned our retirement funds in a separate account which actually earned interest and the government couldn’t touch one penny of it, I would applaud that idea along with that person.
I am sorry to say, neither Bruce Braley, nor any other present elected officials in Washington, D.C., is willing to protect Social Security under the present laws. They are not being truthful with us. We need a balanced budget and a private savings account. It is our savings they are spending. We worked for it. Please tell me when Bruce Braley has ever asked for a balanced budget or privatizing Social Security.
1. Has Bruce Braley ever voted for a balanced budget?
2. Has Bruce Braley ever brought forth legislation allowing Social Security to be removed from the general fund so it can be saved and collect its owns interest?
3. Has Bruce Braley ever have brought forth legislation for a lock box where it would earn its owns interest from another source other than the person who put it there in the first place?
4. Social Security is doomed to fail unless we make these changes along with other changes. Please don’t tell me Bruce Braley is trying to save Society Security.