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"The problem is that we HAVE no money in SS. All the social security taxes
we have paid have been transfered to others. This is merely another
socialist welfare system."
Last I checked social security was being borrowed against by congress (for
things like pork, bigger government, etc.) in addition to being payed out to
others. Using interest collected from paying down the debit to save social
security seems like it would work so long as congress has the dicipline to
do it. What's wrong with that approach? It promotes fiscal responsibility
and forces congress to pay down the debit rather than run it back up.
Also, while the so called free markets we enjoy are supposed to reflect true
value, I wonder where we'd be if all those times the market threatened a
melt down, the government hadn't come to resuce in the US, in Russia, and on
and on. It seems capitalism works fine so long as there's socialism to save
it.
> -----Original Message-----
> From: Don Roos [mailto:roos@xxxxxxxxxxxxxxx]
> Sent: Tuesday, May 16, 2000 5:28 PM
> To: omega-list@xxxxxxxxxx
> Subject: Re: CNBC...
>
>
>
> >
> > >And of course he had his agenda too. He went on to give a plug for
> > >everybody's favorite tradergirl-esque presidential candidate, saying
> > >that social security as defined by bush (fuzzy as it may be) would
> > >further bolster the stock market with an influx of cash and that the
> > >stock market was acting positively to that. Of course, this is about
> > >as close to price fixing as it gets and the assumption here is that
> > >this could protect the US from a prolonged bear market.
> >
> >
> > The objective of allowing us to invest part of our Social Security money
> in the market is so that we all will have more money to spend in
> retirement.
> But I sort of wonder where all of that extra money is going to
> come from...
> >
> > Sounds a bit like a perpetual motion machine to me.
> >
>
>
> The problem is that we HAVE no money in SS. All the social security taxes
> we have paid have been transfered to others. This is merely another
> socialist welfare system. You hit the nail on the head, Bob-
> where IS the
> extra money going to come from? It certainly won't come from
> retirees. No
> siree. Nor federal workers- they have their own nice separate
> fund so they
> could care less about SS. It will come from anyone that earns a paycheck,
> and then SS will "invest" it, come hell or high water, in stocks
> whether we
> want them to or not. That this is a PoNzI scheme is an
> understatement. It
> might be more like an additional fee of mafia "insurance" collected from a
> new stiff for his "benefit".
>
> Don Roos
>
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