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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: greenspirit who wrote (130106)	3/2/2001 8:25:14 PM
From: Nadine Carroll	Read Replies (3) \| Respond to of 769667

Nadine, If a pension fund offered the same rate of return and benefits which our government social security system does. The people running it would be placed in jail by the securities exchange commission for fraud. Social security is not an investment plan. It never was an investment plan. As a pension plan, it has been a fantastic deal for the most of the past and current retirees who paid low taxes in the past and are getting relatively high returns now; it is those who retired recently or are currently paying in who are getting the shaft. I'm still not sure how SS could invest in the markets without politicizing them. If you let people determine their own accounts, what happens (politically speaking) after a market crash and the papers are full of stories about how Grandpa lost it all in the market? Even if you solve these problems, who is going to pay the transition costs? I am still waiting for an answer to that one.