Letter: Something wrong with handling of Social Security

Why isn't Social Security flourishing?

I just looked over my own numbers. Since my first paycheck in 1974, I have contributed (employee and employer) over $400,000 into Social Security. If those contributions were invested at 5% interest annually, through the miracles of compounding I would have over $1.1 million in my account.

That balance would generate about $55,000 a year in interest.

I just started drawing on Social Security. The annual benefit is less than $45,000 a year, so my theoretical balance will continue to increase for as long as I live and disappear at my death.

My wife will get some benefit from my contributions, but she has paid in during her career too.

Something is terribly wrong with they way this program has been administered during my life time.

Bill Fanning

Vernon Hills