Hello Lee: Well, I always knew I'd be screwed in my golden years. The writing has been on the wall for anyone to see since the guys returned home from WWII and did all that boinking.
What troubles me the most about the current proposals is that I'm just under 55 (born at the height of the boink fest) and so it seems that some portion of my payroll taxes will end up in a privatized account for the crooks to manage for me. At retirement, I figure I'll be able to draw a few hundred a month at most. But, hey, my heirs will get what's left!
I did read the writing on the wall, though, and planned as best I could for the days when I could go fishing, bowling, or just rock in my chair on the front porch. So, I have lived a frugal life and saved as best I could. I have paid substantial income tax on what I earned and most of what I saved.
So, when I do hit my golden years and decide I'd like to go bowling, I'm going to be taxed on after-tax money I saved in my youth. That may play in Peoria, but it sure doesn't play very well with me.
Baby boomers beware: that boinking in the late 1940's is coming around to boink you!
Bob McP
ps: Did I use the word boink enough for you?
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