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  • From: Clansgian AT wmconnect.com
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Social Security: Claims and Facts
  • Date: Mon, 14 Feb 2005 12:11:16 EST


> Fact: “A Bush aide, briefing reporters on the condition of anonymity [said]

> that the individual accounts would do nothing to solve the system’s

> long-term financial problems.” The long-term gap in revenue would “have to

> be closed through benefit cuts that have yet to be detailed.” [LAT, 2/3/05;

> The Washington Post, 2/5/05]

Proponents and advocates of Bush's plan alike are hacking away at straw men
and no one addressing the real problem so well stated in this rebuttal (but
ignored and unaddressed as usual): "the system’s long-term financial
problems"
are because when SS was concieved in the 30's only a limited % of the
population lived to qualify for the funds and then those who did received the
funds for
only a vew years (on the average). Now that people live longer and are
active and healthier longer and we are still more or less unsing actuarial
tbles
from the 30's, people expect to take a taxpayer supported holiday for 1/3 of
their life. To bring SS in line with it's original intentions and based on
modern actuarial reality we'd begin disbursing benefits when people reach
their
late 80's. Until and unless this happens, it matters little if the system is
left alone or 'fixed''. As soon as a large enough % of our population has
government 'fiat' money in its pockets pursuing the goods and services
produced by
the other 50% (or fewer), prices will rise to the point that no matter how
many
trillions the government holds as IOU's, they will buy nothing.

James





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