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Politics : Formerly About Advanced Micro Devices

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To: i-node who wrote (200207)	9/4/2004 11:50:05 AM
From: SilentZ	Read Replies (3) of 1573671

>You haven't studied much math or risk management, have you? Plenty of math, yes, but I'm certainly no actuary. >Yet, you cited Kerry's plans for SS as one of the reasons you're going to vote for him? Where's the sense in that? Because I'm pretty sure that no matter what Kerry's stance is on Social Security, it's closer to mine than Bush's is. I could be wrong, but based on what I do know, I have pretty high chance of being right. >The idea that you're going to raise taxes to handle it reflects how little you know about it. 50 years from now, to sustain SS's benefits, you would need a tax rate approaching 50% JUST TO HANDLE SS. Add Federal & State income taxes on top of that -- you have a combined tax rate of 85%. SS has lasted for over 60 years and is still around. Even the most pessimistic estimates I've seen project it as viable for another 20-30 years. People have not paid 85% taxes during that period. There are issues, to be sure, such as people living longer... I've got no problem increasing the minimum age for Social Security by a few years to compensate. Remember, at this point, we're paying something like the second-lowest overall rate in taxes of any industrialized country. -Z

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