Who Really Pays Taxes? Message Board

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Non-Tech : Who Really Pays Taxes?

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To: ztect who wrote (288)	8/15/2000 5:29:26 PM
From: kvkkc1	Read Replies (1) of 666

ztect, GWB's plan sets up private savings accounts for each individual who is contributing into the system. A portion of the tax is deposited in the individual's account while the remainder goes to pay the current recipients. The individual has the option to choose where the money would be invested from a group of plans, similar to 401K's, except without the tax advantage of the 401k. The assumption is that the individual savings accounts would grow faster than the current SS rate of return. The individual would have the choice to take the old system or try the ISA. If enough people found that the ISA worked better, it would relieve future Gov't payouts for SS. An added benefit is that the ISA would be able to be passed on to family after death. The current system stops payment if the member dies. Therefore, if you die before 65, or 67 if you are a younger person, your family would not have anything. The surviving spouse receives a pittance that leaves them in poverty. This is what Al Gore and Bill Clinton are fighting for. They care nothing about the poor and old.knc

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