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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Amy J who wrote (180895)	1/18/2004 6:33:03 PM
From: i-node	Read Replies (2) \| Respond to of 1571689

Which actually speaks to my point. Forced savings. IRAs are not "forced savings". Those who want to save, can. Those who don't want to, it is their money and their life. Government shouldn't be telling them what to do. Government also shouldn't bail them out if they make bad decisions. As to Social Security, the only hope is for it to be privatized. It is a hopeless pyramid scheme.

To: Amy J who wrote (180895)	1/20/2004 4:21:37 AM
From: Joe NYC	Respond to of 1571689

Amy J, Which actually speaks to my point. Forced savings. Well, SS is forced, but it is not savings (money gets spent right away). Transforming it to forced savings would be a great idea. Bush outlined something along those lines before he got distracted by 9/11, something along the lines of everyone having an account at SS where some of your contributions will go (to be invested in, say mutual funds), the other part needs to go to "retiring" pyramid scheme of today's SS. Over time, higher percentage of new workers would go to their accounts, as the old FDR system is phased out. With this idea, even an increase of SS tax rate, or pushing up the limits a bit would not be hugely unpopular, because, after all, most of the money would be there for the beneficiary. There are countries that are moving, or have moved in this directions, but unfortunately, for Democrats, this is an issue of dogma, and source of cheap political shots, so the US will lag behind the most innovative countries in this area. Democrats made it into a "third rail" of politics. Joe