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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: benwood who wrote (15269)	11/9/2004 7:37:57 PM
From: GraceZ	Read Replies (1) of 116555

When I mentioned opting out, I meant giving up future benefits in order to also not have to pay in. I've paid in my whole working life which is about 36 years. I'd be more than willing to pay a lump sum just to not have to pay in anymore and strand whatever benefits that have accrued. When SS first started, government employees were able to opt out by choosing different smaller plans. If you started working for the Social Security administration prior to around 1995 you could opt out of SS and have a completely different old age disability program. I've also heard of state and local municipalities whose employees are covered by separate, self governed plans, they pay no social security tax at all, just into their respective plans. Typical of government benefits plans, they exempt themselves from the mandatory participation they require from everyone else. Congress has no constitutional right what-so-ever to compel everyone to buy a government managed old age annuity. This is the problem with these various socialist measures, there is no provision for those who simply wish to pay their own way and be left out of the scheme except voluntary exile.

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