University of South Carolina Libraries
— 2005 Ford Mustang and Other Great Vehicles! $500 cash bonus All new offer for college and trade school students, recent grads and graduate students Play Ford's "define your prize" giveaway! What would you do with $10,000? Plus, enter for a chance to win cool prizes instantly! Visit www.fordcollegehq.com to play. "" " ^3 I b college student 3B purchase program NO PURCHASE NECESSARY. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. LEGAL RESIDENTS OF THE 50 UNITED STATES (D.C.) 18 YEARS AND OLDER. VOID IN FLORIDA AND WHERE PROHIBITED. Promotion ends 6/30/2005. For Official Rules, prize descriptions and odds disclosure, visit www.fordcollegehq.com. Sponsor: Ford Motor Company, One American Road, Dearborn, MI 48126. ■ SOCIAL SECURITY Continued from page 1 large segment of the population to accumulate assets that would otherwise not be available,” Kiker said. Lawmakers say it’s a good idea — one that Democrats and Republicans have researched in previous years, including S.C. Sen. Lindsey Graham, who called private accounts “a vital part of the solution mix for Social Security reform” in a March news release. The Republican National Committee says the accounts will provide younger workers with an opportunity to receive greater benefits than the current system can afford to pay and create a fund for retirement that the government cannot take away. l ne maiviauai retirement accounts are voluntary. I would expect most young workers to opt for them. If a worker dies, the account balance goes to his beneficiaries,” Kiker said. “Under the current system the contributions may be lost.” Citizens who do not wish to participate would continue to draw from traditional benefits, which still need to be reformed in order to have Social Security at all in the future. Kiker said the current system could also be reformed by increasing the retirement age accordingly during the next 20 years — because people live longer now than when the program was begun by President Franklin Delano Roosevelt in 1937 — while also maintaining an early retirement option. As the system stands today, the RNC reports that, future Congresses could be forced to increase payroll taxes 50 percent during the next 75 years to keep distributing full benefits. Otherwise, those benefits will have to be cut significantly. The SSA estimates two-thirds of today’s retirees rely on Social Security for more than half their income and approximately 50 percent of recipients would be in poverty without it. Advocates of private accounts also believe they will offer each individual more control over their money, and, to Danko, the prospect of seeing more of his own tax dollars come back to him is a welcome substitute to^iooting a potentially large welfare bill for several retirees right now and seeing nothing in return down the line. Social Security payroll taxes also provide support to citizens who are survivors of families in which the primary wage-earner dies or to those who have disabilities. “Not only will the accounts promote individual responsibility and economic literacy among Americans, they allow a person the satisfaction of seeing their money work for them,” Danko said. Kiker had a similar opinion saying it seems clear to him that younger Americans “would be better off financially by participating in the individual accounts than they would under the current system.” Comments on this story? E-mail gamecocknews@gwm.sc.edu $262 Round trip! London - Paris - Amsterda Frankfurt - Rome Paras ara rountftrfp from ATI A nbjact to changa* Taxas era atf< Space won't last...Don't Wait! Isnadtrip student 8 ynutt Airfare Sale mitt the Irani CITS r.’TRAVELOUTS^ 8oo-59J-CUTS(«a7)| U.S. AIR FORCE CROSS INTO THE BUIE Most nurses spend their entire careers in the same hospital. In the United States Air Force, it's unlikely you'll even spend it in the same state or country. You'll have the opportunity to practice nursing in as many as 20 different fields in a variety of nursing environments. And you'll feel a greater sense of shared responsibility when you have the opportunity to actually lead your team. Sound like the kind of career you'd like to have? Then call 1-800-588-5260. AIRFORCE.COM/healthcare • 1-800-588-5260 i 't r 1 Breaking News from the MILL! Visit us at Whaley's Mill | For All of April | --- 1 Month Free Rent with 1 year lease • Premiere Location • Movie Rentals Call Right NOW To • swimming Pool Improve Your Standard • Computer Lab 803.254.7801 • Social Activities • Shuttle Service to Campus • Fully Furnished Apartments • Friendly Management Team • 24-Hour Maintenance Team • 1,2,3 and 4 Bedroom Apartments WHALEY'S ¥¥ MILL ° AT USC > i in