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To: Joe NYC who wrote (103340)5/11/2000 7:17:00 PM
From: TimF   of 186894
 
OT Social Security


But the government does not manage the retirement funds. The government just takes from the young gives it to the old. The "trust
fund" is peanuts, compared to future liabilities.


Its not just peanuts its more like virtual peanuts. Its not really there. The trust fund is government IOUs to itself. If you allow that it your accounting I'll sell you my new billion dollar trust fund for only $100,000. The government will have use income tax money to get the revenue to pay future retirees however big the trust fund is.

Tim
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