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Politics : Al Gore vs George Bush: the moderate's perspective -- Ignore unavailable to you. Want to Upgrade?

To: Nadine Carroll who wrote (8331)	12/4/2000 12:13:53 AM
From: Hawkmoon	Read Replies (2) \| Respond to of 10042

he's going to privatize part of this non-existent SS surplus to fund our 'private accounts'. I think you should go back and review Bush's plan. You clearly have a lack of understanding as to what he is advocating. We're already paying 15% FICA tax to the SSTF. Bush simply states that, rather than paying all 15% to the SSTF, individuals would have the option to take a portion of that FICA tax payment and have it diverted into a individual IRA personal retirement program. And as an IRA, that asset belongs to the individual and can be willed to heirs should the individual die before receiving dispersements. As it stands now, you can pay 15% FICA, wind up dying before retirement and your heirs never receive a dime. And btw, there are OTHER PLACES to put your IRA money. Those people who switched into bonds in April have done very nicely. And if the IRA permits the appropriate self-direction, then they could have chosen BEARX and been up 25% for the year. But even holding bonds, they would make at least 5.5%, which is more than the investment return the SSTF derives right now. Regards, Ron