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

To: TigerPaw who wrote (213683)	12/21/2004 1:05:46 PM
From: Tenchusatsu	Read Replies (1) \| Respond to of 1577837

TP, The reality is that SS is as safe as the treasury bills on which it is based. No it isn't. The T-bills just make up yet another layer of SS financial woes. Tenchusatsu

To: TigerPaw who wrote (213683)	12/21/2004 4:58:01 PM
From: RetiredNow	Read Replies (2) \| Respond to of 1577837

I don't think SS is as safe as Treasury Bills. The reason why is that payouts aren't tagged to the contributions via a personal account. Instead payouts come out of general inflows. This allows some people to get much more than they have paid in. I'll give you a great example. My grandparent were immigrants. They came here in the 60's and became citizens. Then my grandfather died in 1976. For the next 20 years, my grandmother collected social security. She never worked a day in her life and she collected a bonanza compared to what my grandfather paid in. Was this fair? Absolutely not. Was it legal? Completely. This type of system is ridiculous and let me tell you, the cases that are unfair but legal like the above are eclipsed by the cases where outright abuse of the system is taking place by immigrants who are gaming the system. The only way to stem this kind of abuse is to tag contributions to a personal account and tag payout to that same account. Then when the personal account is emptied, payouts end. This would be a fair system that would be sustainable until the U.S. ceased to exist as a seperate entity. The current system will go bankrupt in 2042. Which system do you prefer?