EDITORIAL
READERS WRITE
How secure is our Social Security program?
It is an incontrovertible
truth that the Social Security
system as established is
unsustainable. The mythology
of Social Security, the holy
grail of progressives, is
defended and propagated with
misinformation and deception
with cult-like religious fervor.
An example of government
double-speak and dishonesty
is its decision to rename Social
Security payments a “Federal
Benefits Payment”.
One might well ask how
an insurance arrangement
in which the recipient makes
payments throughout his
working existence is regarded
as a “benefit.”
Whatever happened to
“earned income”?
Three neighboring Texas
counties, which opted out of
Social Security over 30 years
ago by creating personal
retirement accounts, have
avoided a fiscal train wreck
while providing retirees with
even more retirement income.
Since 1980, when more than
75 percent of municipal workers
in Galveston, Texas, voted and
were permitted to opt out of the
system, middle income workers
making $51,000 at retirement
get $3,846 per month rather
than $1,540 a month under
Social Security; workers who
earned $75,000 get $4,540 per
month in retirement.
More importantly, if a
worker participating in Social
Security dies before retirement,
he loses his contribution. But
a worker in the Galveston
Plan owns his account, so the
entire account belongs to the
estate. There is no specified
“retirement age,” participants
own their investment, can
designate beneficiaries, can
pass it on to their heirs and
have a choice of options for
payment of benefits.
The Galveston model has
demonstrated over 30 years
that personal retirement
accounts work. It could also
serve as a model for reforming
Social Security.
Ed Konecnik, Flushing
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INVESTING IN LIBRARIES
The de Blasio administration must have missed
the Change Research poll that came out last month
revealing that 95 percent of New Yorkers say a loss
of library service would impact their communities,
particularly children, seniors, immigrants and lowincome
families.
When the Mayor released his executive budget
last week, it contained no additional operating funds
for the city’s public library systems after they made it
clear to the City Council and the administration that
they needed an additional $35 million in operational
support to deliver the current level of service and
cover the costs associated with having a larger
footprint across the city.
Queens Public Library, which has been seeking
$9.7 million will have to reduce operating hours,
reduce and/or eliminate Sunday service, institute a
hiring freeze, decrease materials (including books,
e-books and DVDs), offer fewer programs for adult
literacy, story time for children, and job readiness
and defer critical maintenance, resulting in costlier
capital projects and delays to other new projects.
Queens Public Library, which consists of 65 locations
including branch libraries, the Central Library in
Jamaica, seven adult learning centers around the
borough, a technology lab in the Queensbridge Houses,
two universal pre-kindergarten centers, and two teen
centers, will now face tough decisions about how to
close the funding gap.
The decision to turn its back on the city’s
public library systems comes while the de Blasio
administration was relying on libraries to do more to
support its own priorities including an increasingly
significant role in early literacy efforts, support to
immigrants, workforce development and closing the
digital divide. Additionally, libraries continue to be
the most active IDNYC sign-up centers, and have
been identified as key partners in the city’s efforts to
reach all residents during the 2020 Census.
There is still some hope with the upcoming
executive budget hearings in the City Council.
People can tell their City Council members
to continue to invest in libraries by visiting
investinlibraries.org and sending them a letter to
urge them to support their libraries.
In last year’s fiscal talks the public library
systems received at least $60 million in capital funds
and $16.7 million in expense funds after the so-called
“budget dance” came to an end with City Hall.
And, remember, libraries also serve people beyond
their walls, in schools, senior centers, homeless
shelters, and jails, all of which could be affected as
Queens Public Library take unwanted measures to
cover an unwanted shortfall.
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TIMESLEDGER,16 MAY 3-9, 2019 BT QNS.COM
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