Letters to the Editor

Poor denied benefit

 

Obama and those lamenting the current “income inequality” need to recognize the major contributor to the current status is the fact the “rich” have benefited from the gains in the stock market over the last five years. No one seems to have cried when the rich lost the most during the market fall off that preceded this rise. I also suspect any future losses will not accrue much sympathy.

What’s unfortunate is the failure of Democrats to allow everyone to participate in the benefits (and potential losses) when they refused to consider allowing Social Security funds to be invested in the “market.” Their characterization of Bush’s plan to “privatize” Social Security as its destruction have denied the “poor” the opportunity to benefit. The fact their current SS payments are instead “invested” in government bonds earning minuscule interest exacerbates the inequity. Future retirees surely deserve better.

Bill Hirt, Bellevue

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