Letter to the Editor
We need Social Security
by Dennis Thompson, Newnan
The Republicans are trying to sell the idea of cuts in Social Security and Medicare that will only affect those under 55.
If you are close to that age and do not have at least a half million dollars pledged to your retirement in some form right now, you could be hurting when that time comes.
Even with that amount at retirement, without Social Security you will be doing well to be able to draw out $25,000 to $30,000 a year.
My wife and I are both around 70, with ailments common to people of that age. We are both on Medicare and even though neither of us were hospitalized or had any surgeries last year, our total out-of-pocket, medically-related expenses, including insurance, exceeded $11,000; the year prior it exceeded $17,000. That is a lot of money when you are on a limited retirement income.
There are no guarantees with your company’s retirement or 401k plan. There are people who were not depending on Social Security who had great retirement plans that were all but wiped out by bankruptcies and 401k plans that lost two-thirds of their value during the Great Recession.
Without Social Security and Medicare they could have lost everything, be living on the street in a cardboard huts, have no access to health care, and be begging for food. This has happened to many others, and the same could happen to you.
So you best think twice before you let the Right Wing take away lifelines that you have been paying into and depending upon all your life.