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Politics : Foreign Affairs Discussion Group
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To: Rascal who wrote (45116)9/18/2002 12:22:42 PM
From: Hawkmoon  Read Replies (1) of 281500
 
OT:Note to self: Remember we don't call it Privatization anymore it's just having your own "account". Another good Marketing tactic since if SS were privatized everybody's "account" would be in the toilet with their 401K.

Note to myself.. I would rather have the right to invest 2-3% of my FICA taxes in a personal 401K (Roth IRA) earning 3-4% CD rates than to give it to the government so they can place it in 10-20 year treasury GOVERNMENT DEBT instruments that my descendants have to pay for through higher tax rates.

Fully 1/2 of the US public debt consists of SS trust fund obligations in the form of T-Bill "IOUs" which our kids will have to pay off. Anything that promotes private savings and decreases the expectation that government SS is a "pension plan" is alright by me. SS should remain a social safety net for those who need it, not an entitlement for everyone, rich and/or poor.

Hawk
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