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Politics : Formerly About Advanced Micro Devices
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To: neolib who wrote (215331)1/18/2005 7:42:57 PM
From: RetiredNow  Read Replies (1) of 1574005
 
yes, neolib. If you look at my previous posts, I've been breaking the issues down much as you have been, except I've been using the following categories:
1) fix SS so it doesn't run out of money in 2042, but don't change existing structure
2) change structure to match benefits to contributions
3) allow some funds to be invested in higher returning assets

I've also said that ss is a complex subject and you have to have a decent understanding of it just to understand that the above categorizations are indeed separate issues. Same thing with your categories. Breaking it down as you did sure does imply you have done some homework. Others on this thread have shown their ignorance through not understanding how to break down the issues.

Having said all that, I'm not as concerned with what you call the accounting scandal, because T-Bills are assets that can be sold on the open market. So redemption doesn't necessarily means the U.S. gov't has to cough up the money. Instead the Trust fund could unload those T-Bills on Wall Street through repackaging them.

2) Wealth transfer would be abolished when you tie all contributions to a social security number and tie benefits to only what can be supported by that specific account. I don't believe retirement funds should be used for charity work. There are better ways to help the poor and the elderly.

3) ROI can be increased by allowing a limited range of investment options for a portion of the ss contributions. I've often said I favor horizon funds, because they are the common man's way of getting a financial planner.
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