Monday, August 19, 2013

Social Security Works

This graph on retirements is stunning, and makes this president's endless attempts to cut social security even more senseless and cruel:

As we celebrate the 78th birthday of Social Security today, it’s worth noting the vital role the program continues to play in Americans’ retirement security. Though Americans are increasingly turning to savings in 401(k)-type accounts, Social Security remains the most reliable and equitable system of retirement savings. The expected stream of Social Security benefits for a household at the median is not very much less than for a household in the top 10 percent—in 2008, the median household age 65-69 had $315,300 of Social Security wealth, while a household at the 90th percentile had $643,100, a little more than twice as much.

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