Focus Point - NCPA Social Security Calculator ICommentary by Pete du Pont
October 02, 2000
I'm Pete du Pont with the National Center for Policy Analysis.
Social Security's at a crossroads. Whether you're an accountant or a bus driver, a large part of your paycheck goes to the social security tax. If you work for somebody else, part of the tax is withheld from your check, and your employer pays an equal amount. If you work for yourself, you pay both parts.
But the real rate of return on the money you pay to social security is very small, and a new service from the NCPA is designed to show you exactly what you can expect back based on your projected earnings, retirement age and other factors.
It's on the web at ../teamncpa.org, and in a new booklet from the NCPA, "Social Security: Your Taxes, Your Benefits, Some Alternatives." You can get it by calling (972) 386-6272, or going to the NCPA web site at www.ncpa.org. Tomorrow, I'll give you more details about the way the social security calculator works, and how it will get you thinking about alternatives to the current system.
Those are my ideas, and at the NCPA we know ideas can change the world. I'm Pete du Pont, and I'll see you next time.