Are Social Security Private Accounts a Good Deal or Raw Deal for African Americans?
How many legs does a dog have if you call the tail a leg? Calling the tail a leg doesn’t make it a leg. — Abraham Lincoln Whew! I almost wrote a really long article about the Social Security System and what it means to Black folks. Fortunately, I fell asleep while writing it just like you would have reading it. I can’t think of anything more boring then an in depth analysis of what is wrong with Social Security. I think that one thing the under 40, Black American, internet savvy crowd already knows is that the Social Security system is in trouble and that it won’t be there for us when we retire the same way it is for our parents and grandparents. Something has to give. One thing is definitely true, the Social Security system won’t exist in the same form and with the same level of promise that it has now. So, with all the boring stuff out of the way, I want to say a few things about private accounts and what I think they mean for African Americans. I’ll start with the bottom line up fr
