You know, I'm finding many, including younger folks are believing this: Social Security is gone! I wasn't around when Social Security was started but every and I mean each and every year there is an election - there is this scare tactic that social security funds are gone or won't be there when we or younger generations retire! So for what, at least the last 75 years or so this has been the battle cry of some politicians...just ain't true folks! The bad part about social security is: it's not enough to cover expenses when you retire without some other sort of additional income. Just that simple!
This battle cry among politicians was also used when these IRAs and 401K plans were being promoted...well, I guess we've seen what's happened to those investments...but at least in some cases the stock market WILL come back, chicken little will continue to lay her eggs and life goes on.
The cost of living will continue to rise and taxes will continue to go up...so although common sense seems to evade some of those folks in DC...life will continue on earth....:)
Hey, I remember when it cost a dime to go to the movies and a nickle for the popcorn and that was in Collinsville Oklahoma! And now what, here in Orange County, CA in 2008 it's $10.00 for the movie ticket and at least $5.00 for the popcorn. Although I must say most of the movies today aren't worth spending $10.00 on, too much violence in them....:)
I also raised two children on a whole lot less than what any of the politicians in Washington DC earn in one year's salary...in fact I don't think my income for my entire lifetime has ever equalled what they make in one year...I guess clinging to my faith was a good thing....:) I didn't have the luxury of voting myself a raise! Yep that's what congress does as well, they vote themselves a raise each year! So I suspect any new taxes will go into their pockets first, regardless of what they're promising to do with it.