President Bush asked, “Does anybody have a better idea” regarding Social Security? I think I have a better idea.

Let each person put his or her Social Security percentage in the local bank or credit union for retirement. The banks and credit unions would pay a yearly interest rate on that money tied to that year’s average stock market interest rate. This interest would not be taxed.

This account can be transferred from bank to bank or credit union as a person moves. Strengthening the local bank this way is a reasonable idea.

How much of the Social Security percentage? I’d say 100 percent of it until the account reaches $100, after that a lesser percentage.

Start this at the age when kids begin to work. Our kids began at age 14. Let’s say: Year one, ages 14, 15, 16 begin to contribute to their own accounts; year two, ages 17 to 21 begin to contribute to their own accounts; year three, ages 22-26 and so on.

Working from the bottom up may let the anxious middle-aged people benefit from Social Security as it is now.

Vickie Rogers, Otisfield

Copy the Story Link