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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (217057)	2/3/2005 1:26:03 PM
From: Joe NYC	Read Replies (1) of 1571601

John, The unfunded liability looks huge in the aggregate, when you go out 70 years and multiply it times millions of recipients. That's a smokescreen. It's an incremental problem that requires a minor and incremental solution. After months of debating this, it appears you are nowhere closer to having a clue what funded vs. unfunded means. "Minor" adjustmnet to fully move from unfunded to funded would require a tax increase to almost double the current SS taxes. This way, the first 12.4% would go to pay off the unfunded liabilities, and a second 12.4% to fund their own retirement account. That to me, that is anything but minor, and it would still take some 50 years to implement, during which time, the tax to pay off the unfunded portion would go to zero. (this is one way to pay off the unfunded liability). It is just a demonstration how deep in the hole the worst legacy of the Democrats have left the us. With a stroke of a pen, FDR created (and Democrats perpecuated) more debt that all of the presidents accumulated in the endire history of the country. Joe

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