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Technology Stocks : Intel Corporation (INTC)

INTC 35.10

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3:59 PM EST

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To: Amy J who wrote (103355)	5/12/2000 7:56:00 AM
From: GVTucker	Read Replies (3) of 186894

OT, RE: Social Security, IRA's, et. al. Amy, it's good to see someone else rant about how the system is highly skewed against the small businessman (and woman). Regarding Social Security, everyone who wants to see individuals be able to invest their Social Security funds into the stock must also then be willing to let anyone who loses money in this venture go completely destitute. If people are not allowed to go broke and stay broke in this scenario, then a very large imbalance between risk and reward will develop that will cause inefficient capital allocation. That is why I (and AG and R Rubin for that matter) am not in favor of putting Soc Sec funds into the stock market. I am not willing to let people have no safety net at all. As John Hull said before, the Social Security fund was set up as a safety net. The whole point there is to take care of people that are not planning well enough for retirement, not throw them out on the street. There are many other solutions that Congress could enact to encourage more saving. I'd just as soon leave Social Security out of that discussion.

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