Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Joe NYC who wrote (224788)	3/18/2005 7:15:07 AM
From: Road Walker	Read Replies (1) of 1571240

re: It seems that we are moving to near bankruptcy, where some unelected financial control board will take over the spending power from the US Congress, as it happened in New York City some decades ago. Yet, you want to add more debt with the private account scheme? Private accounts are not a bad idea in principle, but lets do it after we get our fiscal house in order. In the meantime SS might invest 10%-20% of it's surplus (averaged in) in an broad index fund. That along with raising the FICA cap, slightly increasing the FICA tax rate, changing the COL adjustment to an average of wage and price inflation, would solve the SS problem. We could also lower the benefit payout for the highest earners, but I think that is probably going overboard and would result in too much of a surplus. John

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