Younger people welcome reform

Published 9:00 pm Saturday, December 25, 2004

Ann Adams’ recent letter regarding Social Security reveals the hollow arguments of those opposed to long overdue modernization of this important program (“Social Security: GOP wants to destroy it, not save it,” Dec. 14).

She erroneously claims Social Security will be solvent until 2052. In reality, Social Security’s trustees have found benefits due will exceed taxes received by 2018. The system’s total shortfall is $10 trillion, which would have to be paid out of the general budget – detracting from priorities like national security, Medicare and education.

Putting aside that problem, consider the issue on an individualized basis. My paternal grandparents, blue-collar workers, never collected a dime of Social Security because they both died before retirement age. The fact no Social Security contributions are an inheritable asset, even after paying payroll taxes for decades, is undeniably unfair.

Meanwhile, proponents of Social Security reform have been clear – current and near retirees will not be affected. Those who would, people like me and my children, already live in a workplace where pensions aren’t offered and each individual owns their own retirement through 401(k) plans, IRAs, etc. We would welcome personal accounts as a part of Social Security. It’s the kind of empowering choice younger families already use.

In contrast, opponents of Social Security modernization offer no solutions – besides benefit cuts and tax increases – to protect this program. Our country deserves better than that.

Eric Earling

Lynnwood