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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Hawkmoon who wrote (3014)	2/16/2001 12:54:05 AM
From: Don Lloyd	Read Replies (1) of 3536

Ron - ...I think the concept of taking a percentage of FICA tax payments (2-3%) and providing the payer the option of having them placed in an IRA is incredibly important to weaning this society off of depending on SS as a retirement program.... Have you thought this through? Does it really make any logical sense for a partial privatization? If you divert 2% of your payroll taxes to an IRA, presumably your benefits will be appropriately reduced. How does this benefit the overall solvency of the SS system? The system loses the current payments in exchange for the reduction in future liabilities. The only way the system can benefit is by stealing your presumably higher returns at the other end. If it does so, why would you choose to participate? You get to risk lower returns without a possible reward because you don't get to keep the possibly higher returns. A total privatization doesn't suffer from this problem. What am I missing? Regards, Don

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