I started paying Social Security at the age of 12. When I was 65 I asked a super bookkeeper, David James, who happened to be Ronald Reagan”s bookkeeper and fundraiser, what the value of my Social Security would be if it had been invested at a conservative rate instead of collected by the government. He calculated $1.2 million (and that didn”t include the employer”s contribution).
If I just retired on the interest at 4 percent, I could have drawn $48,000 each year and left the $1.2 million to my children and grandchildren when I died.
But, instead when I retired on Social Security I was paid $480 per month, as I recall. Rick Perry is wrong; Social Security is no Ponzi scheme; it”s far worse. It”s outright robbery. The government took away most of my retirement and gave it to itself and other people who didn”t earn it.
Randy Ridgel
Kelseyville
