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To: Joe NYC who wrote (103340)	5/11/2000 7:14:00 PM
From: deibutfeif	Read Replies (2) \| Respond to of 186894

Jozef, re:...converted to a real retirement system... Ah, but what about all the people in my generation (b-boomers) who have been contributing and wouldn't get anything back? No, with the political power and all the time to wield it, we'll just vote up the taxes on anyone who's still working by then and maybe go after accumulated wealth if SocSec doesn't come through for us. [at least that's my worry, especially the accumulated wealth part...] ~dbf

To: Joe NYC who wrote (103340)	5/11/2000 7:17:00 PM
From: TimF	Respond to of 186894

OT Social Security But the government does not manage the retirement funds. The government just takes from the young gives it to the old. The "trust fund" is peanuts, compared to future liabilities. Its not just peanuts its more like virtual peanuts. Its not really there. The trust fund is government IOUs to itself. If you allow that it your accounting I'll sell you my new billion dollar trust fund for only $100,000. The government will have use income tax money to get the revenue to pay future retirees however big the trust fund is. Tim