PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Peter O'Brien who wrote (429654)	7/19/2003 5:22:56 PM
From: Steve Dietrich	Read Replies (1) of 769670

<<An average worker would have been much better off retaining their SS taxes (and their employer's equivalent taxes) over the years and investing it themselves.>> The problem with this approach is that the first generation to receive SS paid little or nothing into the system. It was and is a transfer of wealth from one generation to another. It's a social contract between generations. The main problem with SS is that it's been running billions of dollars in surpluses since the 80's. But George Bush decided that that money was the "people's money" and that the people deserve their money back. Only he isn't giving it to the people paying SS, he's giving it back to those paying income and estate taxes which are running severe operational deficits. These severe deficits will lay the groundwork for not honoring the debt held by the Treasury owed to SS. In other words they're stealing from the poor to give to the rich... Steve

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