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

To: Tenchusatsu who wrote (215564)	1/21/2005 1:59:04 PM
From: Road Walker	Read Replies (1) \| Respond to of 1573852

re: Of course, even a life insurance policy at maturity has limits on its returns. Not SS. Of course it does, everybody dies. Some die young... those are the people with the gripe. re: I suppose we could center on a new "equilibrium" once the so-called "trust fund" runs out, but who is going to support an extra 5% tax on income below $90K? There are a lot of proposals floating around out there. I think you do three things: 1. Change the COL adjustment to somewhere between wage inflation and price inflation. 2. Raise the tax cap, maybe to $130K. 3. Raise FICA by 1% on both sides of the contribution, employee and employer. Do it now, and it most likely takes care of the 2050 problem. If not, you adjust as it gets closer. You don't want to overshoot too much, as you say, that money in the treasury is a strong temptation to our profligate elected officials. If you want to invest up to 20% of the fund in an S&P tracking fund, I don't oppose that. Another part of the legislation should be that any SS surplus shouldn't be included in the general budget; the accounting should be separate. Of course that would probably be a deal killer from both political sides. It's simple, it solves the problem. There would probably be tax reductions when the echo boomers reach peak earnings years. It doesn't add $2Trillion in debt, it doesn't add a new expensive bureaucracy. John