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(Continued from page 2) | from the Fund wore onljr 500 mit lion dollars. This rose to mot* than three times that amount in | I960.
6. By 1971, it is estimated that „ those receiving Social Security pensions will number 10% million and will he taking a minimum of ' * $5,800,000,000 each year. That would mean drawing out of the Fund about $2,400,000,000 more each year than is being paid In at present. .« :
7. ‘ To meet this deficit, the present rate of contribution by employers and employees (1%% •> each) will have to be greatly increased, or made up out of the general tax fund.
There is the lowdown on Social Security, which will let you see that it is neither social nor secure. The Vice-President points to it with pride, but every American should View it with alarm.
If any private insurance company had misappropriated funds (I could use the word embezzled) as the Federal. Government, has done with the Social Securtiy funds, its officials would, all oe behind bars and the company out of business. As an employer, I , feel a sense of guilt every time _ I make a Social Security deduction from the pay of my employees, ■'5;V ■ .
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