Protect social security

Dear Editor:Some people like to side with big business and point to what they call entitlements as the cause of much of our problems, especially social security. "More on Social Security," Letters to the Editor, 2/24/11) The fact is, if social security were eliminated, it would not cut our national debt by one cent. Social security is paid for by a tax on income called social security taxes. There is a cap where the taxes are only deducted on the first $106,800, which makes social security solvent for the next 26 years. If Congress were to remove the cap, then social security would be solvent for generations into the future. Since it was established 75 years ago, social security has paid every person every penny they were owed. Take a look at these private retirement plans run by Wall Street and business. People lost billions of dollars due to greed and inept handling. Time after time, people lost their private retirement they had been paying into for years. All the while, social security was there, paying out every penny they owed. There is no need to cut social security benefits or increase the retirement age. And least of all, privatize it. Don't fall for the misinformation, fight it. Write to your congressman or senator and tell them to remove the cap and keep social security out of Wall Street's hands. Protect one of the most important assets we have. -- Russell Rankin, Downey

********** Published: March 3, 2011 - Volume 9 - Issue 46