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Politics : Sharks in the Septic Tank -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (21289)	8/10/2001 4:57:52 PM
From: Don Hurst	Read Replies (1) \| Respond to of 82486

>>"These taxes could be politically unacceptable (except for the fact the the elderly vote a lot and there will be more of them depending on our taxes then)..."<< As I said, the SS Trust Fund will never go "broke" because it has the good faith of the US Government behind it and the elderly vote in greater and greater numbers and their children, and grandchildren etc., who also vote will not let the government stop payments.....unless the sun stops rising from the east. So what does Bush do? He says we have a SS problem therefore lowers taxes predominately on the wealthy (who probably won't need SS anyway) so any chance for a government surplus disappears. Then he next says we should allow the current payers to "invest" a portion of their SS tax "privately", which means that the existing SS system will lose its' ability to pay recipients sooner. Now we bring into the mix a greedy and sometimes less than honorable group of wall street types who will never have to pay any SS payments to those who choose to use them for long term "investing" (In Vegas they call it "gaming"). Some "smart" people may decide to invest their funds into "safe" Treasury Bonds (also through an unnecessary middleman who wants his cut and was not there before) supposedly backed by the same good faith US Government who cannot pay current SS recipients because the SS System has no funds but will somehow have the funds to pay bondholders...HUUUUH!!!!! You want to try to explain how this middleman (call him wall street fund mgrs, bond traders, analysts, stock brokers, investment bankers etc.(who could care less about SS and have no obligation whatsoever to ever meet a SS payment) will make the SS system better for the future? If the SS Trust Fund can gain so much from these people then the SS Trust Fund should pay some "smart" people to use them for these investment gains and we can still expect the government to live up to its' social contract.