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Patrick Foley: Social Security not an investment

The quick reply on Sept. 9 to my letter appearing on Sept. 8 regarding the birthday of Social Security may have caused the writer to confuse Social Security with an investment. Social Security's purpose has been to assure American citizens that t...

The quick reply on Sept. 9 to my letter appearing on Sept. 8 regarding the birthday of Social Security may have caused the writer to confuse Social Security with an investment.

Social Security's purpose has been to assure American citizens that they will not live out their retirement years in poverty. I don't feel that there are many American that would say that it is not needed.

I see Social Security as insurance for the American people and it's done such a good job that Wall Street has been unable to take over the funds. Social Security could do a much better job if higher income earners were to pay their fair share.

Some people have issues with "Am I my brother's and sister's keeper?" while some fear the word "social." Those are personal moral/ethical issues we all need to decide. I believe that Social Security is here to stay and needs to be expanded.

If you are blessed with enough money over and above your necessary expenses to invest in bonds and stocks, go right ahead. That helps create excellent paying jobs in the financial industry. If you have an income above $118,500 then feel blessed to be able to pay your fair share into Social Security.

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Patrick Foley

Willmar

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