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  • From: ron thigpen <ron AT fuzzsonic.com>
  • To: "Internetworkers: http://www.ibiblio.org/internetworkers/" <internetworkers AT lists.ibiblio.org>
  • Subject: Re: [internetworkers] Erection (morality and law)
  • Date: Tue, 09 Nov 2004 12:58:38 -0500

Tony Spencer wrote:
> Hahhahhahaa! I'll collect Social Security when I retire? Lets just say its
not included in my retirement planning. Privatize part of it and I'll feel
more comfortable adding it to my expectations.

and it's exactly that type of attitude that'll make it OK in the minds of the politicos to take it away. zero expectation leads to zero delivery.

the fact is (from what i've read) that without any further gov't action even after the trust fund balance goes to zero there would be sufficient income streams from the smaller number of payroll deductions to cover approx. 73% of the promised obligations. so that particular scenario doesn't lead to nothing for SS payments, just less.

the scenario that worries me looks like the one above, but with diversions of funds into privatization pulling even more out of what is available for payments. what revenue will cover the difference before the private accounts start paying out?

when a system is facing fiscal shortfalls, the solution is not to reduce its income. if the so-called conservatives had been more active in seeing to setting aside some of the last 25 years' overpayments we wouldn't be in this mess.

--rt




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