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

To: Joe NYC who wrote (217093)	2/3/2005 2:06:29 PM
From: Road Walker	Read Replies (1) \| Respond to of 1571198

re: What do you think the chances are that the retirees would get paid from the payroll taxes during a 30 year period of market decline? The market doesn't decline consistently for 30++ years, all it has to do is a have a cumulative decline, as it has for the last 4 years. And we're still paying payroll taxes, are we not? re: It would be a very different country from what it is today, and the first debths that would be repudiated would be the soft debts such as the unfunded SS liabilities. With a single vote in Congress, the promises to future retirees can be wiped out. If you are about to retire, Congress can say you get nothing on the day of your retirement. This is a democracy, remember? SS would be the last thing to be eliminated. re: On the other hand, if you have a private account, money belongs to you. Says who? As you said - "With a single vote in Congress, the promises to future retirees can be wiped out. If you are about to retire, Congress can say you get nothing on the day of your retirement." John