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Politics : Formerly About Advanced Micro Devices
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To: SilentZ who wrote (214994)1/15/2005 4:02:57 PM
From: RetiredNow  Read Replies (1) of 1573936
 
OK. My idea for social security IS a mix of socialism and captialism. I'm not proposing we move to a 401(k) style personal account plan. Instead, I'd like to see social security continue to be untouchable by the beneficiaries until the retirement age mandated by Congress. However, we can be one hell of alot smarter about how we invest the participants money. Like I keep mentioning, let's put all the contributions into accounts tagged to each contributors social security number. Second, let's invest their money in target-date/horizon funds so they can maximize their return.

That is all I would want. That would ensure that everyone still has a safety net. It would also ensure that everyone gets a good return. That's the best of both worlds. Instead, we have the worst of both worlds. We have a system that needs constant upward revisions in tax rates and decreases in benefits. And we have a system that our youth believes won't be around to help them in their old age.
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