Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Nadine Carroll who wrote (130431)	3/5/2001 11:09:32 PM
From: greenspirit	Respond to of 769667

Criticize Bush endlessly but offer NO solutions to the demographic problems related to social security on your own. It's very easy to identify pitfalls without having to provide any reasonable solutions. What do Democratic politicians intend to do with the system? Not one Democratic politician I know of has even attempted to address the issue in a meaningful way. If you aren't willing to address the real reason we need to reform the system, whatever criticism you have, remains a shallow substitute.

To: Nadine Carroll who wrote (130431)	3/6/2001 2:56:45 AM
From: DavesM	Respond to of 769667

Nadine, Probably $2000 in total contributions are made to FICA for someone making about $15,000 per year (remember the employer pays half-a hidden tax). If this amount were placed in a IRA, yielding even 6%/yr; over a working lifetime of 40 years, this probably works out to around $400,000! This means that someone making $1200 a month for their working lifetime, could possibly retire at $2,000/mo (assuming a 6% return and not touching the principal!). Please note, I am not including the Medicare contribution (which I believe would amount to about $20 per month). Imagine telling a couple making $40K a year, that if they their FICA contributions were put into a private account buying only the highest quality bonds, they could have retired millionares.