Social Security Correction

Wednesday, February 9, 2005

(Metropolitan Washington Council, AFL-CIO)


The Bush proposal to “save” Social Security will actually cost the average worker $152,000 in retirement benefits, according to the Center for Economic and Policy Research (CEPR); we neglected to cite our source in Monday’s report (Destroying Social Security To "Save" It 2/7/05). The CEPR also questions the Bush proposal to privatize Social Security since the current program is "extremely efficient. The Administrative costs of Social Security are just 6 cents of every dollar" versus the 15 cents per benefit dollar that it costs British citizens for their system of private accounts. CEPR is a DC-based think tank created in 1999 that "conducts both professional research and public education" so that "the public is better prepared to choose among the policy options." It is funded primarily through foundation grants. Take action and stop the Bush scheme to privatize Social Security: sign the Working Families’ petition here

 

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