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Politics : Formerly About Advanced Micro Devices
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To: TigerPaw who wrote (217221)2/3/2005 9:52:17 PM
From: RetiredNow  Read Replies (1) of 1572145
 
Any system that robs Peter to pay Paul is not long-term self-sustaining. However, a system that takes your contributions and puts them into an account for you only, would be long term self-sustaining. This is basic stuff.

If you like social security so much, I have a deal for you. Why don't you send me a check for all of your current savings, and I'll send you a promissory note payable at 1% interest per year over the next 50 years. However, 30 years from now, I will arbitrarily reduce the principal I owe you to just 70% of whatever the balance is. Would you take that deal?

That is what will happen with SS, if it is not fixed. SS as it stands now is a horrible deal for all participants that aren't already retired or going to retire in the next 5-10 years. We can do better and Americans deserve better. Our children deserve better.
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