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View Diary: A Baby Boomer on Social Security (75 comments)

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  •  The AP analysis of the Urban Institute study.... (6+ / 0-)

    ...does not take the Medicare benefit into account. You cannot get Medicare at the regular monthly rate if you have not worked 40 quarters. This is a huge SS-associated benefit since without it, one has to pay around $500/mo for Part A. Thus, the AP 'analysis' is skewed against Social Security. It is bogus because it only takes into account SS payments in the cost-benefit analysis.

    Even at a minimum wage, the current present discount value of the social security would be over $200,000. There is no way a minimum wage worker today could conceivably save and invest the equivalent amounts and be able to afford an inflation-adjusted $200,000+ annuity (as some Republicans argue). Add in the Medicare benefit, and it is an unbelievable deal.  Plus, it is set up to provide the greatest proportional benefit to the lower income groups.    

    Anyway, I don't buy the flawed AP argument that Time repeats. The AP is in the pocket of Pete Peterson.

    Thanks for the interesting comment in any case!    

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