Analysis of information sources in references of the Wikipedia article "Social Security (United States)" in English language version.
I remember that when I appeared before the Senate Committee old Senator Gore raised a sarcastic objection. "Isn't this Socialism?" he asked me. My reply was, "Oh no." Then, smiling, leaning forward and talking to me as though I were a child, he said, "Isn't this a teeny-weeny bit of Socialism?"
The ideology that Altmeyer and other Social Security administrators fashioned for the old-age security system was individualistic and based on a (technically quite false) analogy to private savings or insurance.
Some commentators are finding a tempting comparison between the Madoff scandal and the Social Security system. Here's why it's wrong.
The social security bill, in its present form, is thus not only a sweeping piece of legislation, but also a far-reaching financial measure. To have investments available for such large reserve funds, the Treasury will have to keep as much of its debt as possible in short-dated maturities, so that securities can be provided by the Old-Age Reserve Account. The existence of this huge reserve, furthermore, will constantly encourage resort to venture in State Socialism.
Senator Frederick Hale (Republican), Maine, assailed the [Social Security] bill incidentally in the course of a speech in which he said President Roosevelt is filling Washington with 'socialistic agencies'. He said if Mr. Roosevelt is renominated next year it will be unnecessary for the Socialist Party to put up a candidate.
The ideology that Altmeyer and other Social Security administrators fashioned for the old-age security system was individualistic and based on a (technically quite false) analogy to private savings or insurance.
(For Average household retirement savings account balance:) Estimates of 401(k), IRA, Keogh and other defined contribution account balances based on 2019 data. Source: Employee Benefit Research Institute. . . . (For median net worth:) Source: Federal Reserve.
(For Average household retirement savings account balance:) Estimates of 401(k), IRA, Keogh and other defined contribution account balances based on 2019 data. Source: Employee Benefit Research Institute. . . . (For median net worth:) Source: Federal Reserve.