Mark Dayton's letter on Social Security

[katinmn]

(I have also heard from Betty McCollum. However, Norm Coleman has yet to respond. Coleman, in fact, is seriously behind in all correspondence!)

Thank you for your letter regarding Social Security. I oppose the proposals to "privatize" Social Security.

I believe that privatizing Social Security would mean less income in
retirement for all present retirees and ultimately for most future
retirees. The way the system works is that today's workers pay for the retirement benefits of current retirees. If workers take money out of Social Security to put into their own individual accounts, then the government will not have enough money to pay full benefits to people currently receiving Social Security.

Furthermore, today's workers would be placing their own retirement
security in jeopardy. Just look at what has happened to the stock
markets during the past year. What would have happened to people retiring who had lost half or more of their private investments to an economic downturn? Either they would be forced into life-long poverty, or the government(i.e. the taxpayers) would have to make up the difference.

That is why Social Security was established: as an old-age insurance
plan. It was not, and is not, designed to make people very rich;
rather to keep them from becoming poor. It has been remarkably successful in the last seventy years. Let's keep it successful for the next seventy years.

Social Security must be preserved in its current form and we must
continue to guarantee benefits for retirees, disabled workers, and
surviving family members. Thank you again for your letter, and please write again with any other matters of concern to you.

My best regards.

Sincerely,
Mark Dayton
United States Senator

[KitchenWitch]

1. Thank you for sharing that

At least part of Mark Dayton's brain has not been hiding under a rock!