Al Gore vs George Bush: the moderate's perspective Message Board

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Politics : Al Gore vs George Bush: the moderate's perspective

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To: Hawkmoon who wrote (8333)	12/4/2000 12:29:24 AM
From: Nadine Carroll	Read Replies (1) of 10042

We're already paying 15% FICA tax to the SSTF. Bush simply states that, rather than paying all 15% to the SSTF, individuals would have the option to take a portion of that FICA tax payment and have it diverted into a individual IRA personal retirement program Oh, I understand what he's advocating. What I also understand, and Bush's plan conviently overlooks, is that all of our current 15% FICA payments are going straight into SS payments or into general treasury funds, via SS/Treasury IOUs. Any money that is diverted from this stream must be replaced by a tax increase or by running a deficit.

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