diumenge, de maig 03, 2009

FDR legacy

"While some Americans were soaked by social security, others, especially the first retirees, rolled in benefits after making only minimal payments. Ida Fuller, for example, a legal secretary in Ludlow, Vermont, paid a total of $24.75 into social security from 1937 to 1940, when she retired at age sixty-five. Her first monthly social security check of $22.54 almost matched her entire contribution. At her death in 1975, she had received $22,888.92 from social security, a payout of roughly $1,000 for each dollar she paid in"

New Deal or Raw Deal, by Burton Folsom