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Politics : The Castle
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To: MSI who wrote (191)11/9/2002 2:46:08 PM
From: TimF   of 7936
 
An entitlement is whatever legislation you want. Insurance has financially a specific accounting meaning, i.e., you put money in, you get your money back out, plus whatever investment benefits if any.

Insurance schemes are also subject changes in law. The problem is not that legislation can change social security its that the government is the one who both runs social secuirty and makes the laws. One party of the "agreement" (you pay SS taxes and then later you will get benefits) can change the terms unilateraly. Of course it can be hard politically to change the terms to much.

With regular insurance the insurance company can lobby for laws but it does not have the authority to change the law or contract by itself.

The only difference is that Repubs are more organized and spend waaaaay more than the Dems.

Do you mean that in terms of campaign spending or government spending? Either way its not true.

Tim
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