Pension Privatization

Re “Democrats Venture Into Realm of Social Security Privatization,” July 25: I’m disappointed to learn that Democrats are hopping onto the privatization bandwagon without more careful thought. Permitting middle-and upper-income families to invest a fraction of their Social Security tax in the stock market may be a fine idea.

But what about low-income folks who, inevitably, will be largely or entirely dependent on Social Security in their retirement? No responsible financial advisor would urge them to tamper with the rock-bottom safety net of the sort they now have for the sake of possibly greater gains in risky investments.

Privatization advocates emphasize the inequities of the present system for low-income groups (especially minorities and women). But holding out the carrot of private investments to such financially vulnerable recipients is reckless.

Leland L. Johnson

Woodland Hills