Friday, April 10, 1998

Brother's keeper?

Doris Carpenter identified the problem with the failing social security program with her comment that "after all, we are all our brother's keeper" ("Clinton's Social Security forum," April 6, 7A).

For every dollar each of us pays into Social Security, our employer pays in one also, which is money they would have otherwise been paid to us.

The "surplus" being collected today is all being spent today, so that the government will have to raise income taxes to pay back the debt to the Social Security system when the surplus becomes a deficit.

Wish as they might, this system cannot continue as it was designed (it never could).

The only way this dependency on government can continue is for the government to become our keeper, literally. No more private retirement investments. No more individual home ownership, no more personal wealth.

By 2025, to support the 40 percent of the population who have reached age 65, all must be made to sacrifice.

If we cannot admit the present Social Security system was a great mistake and begin to get people to take personal responsibility for their future, I am afraid our nation is doomed. If we are smart and end this national dependence, then I am confident our future could be so bright, that many of us will choose to help those unfortunate few who need our help. Not as their keepers, but as their friends.

GEORGE SCHWAPPACH

Abilene

Via e-mail

Buying real estate

Jack Ferguson's April 3 letter may lead prospective real estate customers and clients to come to the wrong conclusion.

Buyer agents, who represent buyers in the acquisition of real estate, are readily available in the Abilene market place.

Their responsibility is to help locate the type property the purchaser desires and assist them with the acquisition of that property.

The buyer agent may be compensated by the purchaser, the seller and with the informed consent of both parties, by both. Buyer agents enjoy the same access to properties for sale as do listing agents and sub agents.

Listing agents represent the seller and are responsible for the successful marketing of the property. They may work with purchasers but still represent the interests of the seller in negotiations. Sub-agents may be associated with other firms and also work with purchasers but represent the interests of the seller.

Sellers compensate listing agents and sub-agents for their services. When dealing with purchasers both the listing agents and sub-agents are required to treat all parties fairly.

The prospective home buyer has a choice when purchasing a home. He may either enter into a written contractual agreement to be represented by a buyer agent or elect to accept the services provided by listing or sub-agents of the seller.

In one case you have representation and in the other you have assistance but not representation. But in either case you can be assured you will be treated fairly.

MARV GERARD

Abilene Board of Realtors

Via e-mail