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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Lane3 who wrote (22446)	1/1/2004 10:36:42 AM
From: kumar	Read Replies (1) \| Respond to of 793625

Lotsa questions! Let me take a shot at some answers : I'm not thinking of "returning contributions" - thats past history that can not be changed. I'm thinking current/future contributions. Lets say I contribute $100/year in FICA. 1st year, the govt gets to work with $96, and I get to work with $4. 2nd year, the govt gets to work with $92, and I get to work with $8. Over 25 or so years, I get to work with $100, the govt gets nothing. Essentially, I am responsible for my retirement days, based on how I managed my money during my working days. The estimate of 25 years also helps make sure that the current retired population does not get shafted, but they expect a phaseout of the Ponzi scheme.

To: Lane3 who wrote (22446)	1/1/2004 12:10:40 PM
From: michael97123	Respond to of 793625

K&K, SS funds should be invested like the best state pension plans with some exposure to the market. That will juice up the yields a bit over time. No way should this become either a giant 401k type scammers delight for the great unwashed or spend the retirement money on booze libertarian nightmare scenario where we tell the old and starving---"TS you f....d up!" Oh sure, you, me and Kumar probably would do well but a majority of the great unwashed would be wiped out in either of the above scenarios. The management of the investment funds is the key issue and again conservative management with some exposure to stocks will give SS more of a chance to be solvent. We might want to do some cost cutting and modernize the bureacracy while simplifying the payout system a bit as well. And while we are at it, lets take Lindy Bill off the rolls. As i understand it, he can get buy well enough without. <g> Mike