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

To: Ish who wrote (312032)	10/29/2002 7:31:19 PM
From: Steve Dietrich	Read Replies (2) \| Respond to of 769667

Ken's money went to fund the retirement benefits of those who were retired while he was working. Now current workers fund Ken's benefits. That's how SS has always worked. The first generation to receive benefits paid little or nothing in to the system. Current workers have always and still do pay for current retirees. That's how it works. (It's been running surpluses since '83 when Reagan agreed to raise payroll taxes to prepare for the coming retirement of the baby-boomers.) It's always been a social welfare - transfer of wealth program. It's also been incredibly successful at eliminating poverty among the elderly. Steve