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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Augustus Gloop who wrote (72911)	2/26/2005 3:30:04 PM
From: KLP	Read Replies (1) \| Respond to of 89467

The common ground is perhaps the ability to pass on unused portions to the immediate family... AND if that happens, it will be the end of SS as we know it. By keeping those funds, and the funds promised to the individual until his/her actuarial time of death, the Government since the program started, has been able to fund a portion of the next promised benefits. I am all for that, that's for sure. However, the "passover funds" should only be the exact amount the individual has put in over the years, plus the small amount of interest that accrued...It should NOT include the much larger funds that superceed the actual amount the individual "contributed" in the first place. Actually, a MUCH better SS program in my mind anyway, is give each individual a choice.... EITHER show the government once a year, that the individual has a retirement fund (IRA or whatever) that he/she CANNOT withdraw from until he/she retires, but only can add to the account....The minimum contribution to this private account is the amount the individual would have had to contribute to the government SS account. Difference is the interest that the private account would gather, versus that of the government SS account interest. Compounding interest is a miracle. OR they are required to contribute to a SS fund. If one opts for a private required fund, then that person does not have to contribute to the SS fund. Their employer won't have to contribute the SS portion for that employee, but rather should contribute a flat 3% for each employee that opts for the private fund, and this 3% will go into the regular SS fund for those who don't want to have a private retirement account. And yes, Gates wouldn't notice the amount personally. But then, look at the billions with a B he and his wife have contributed already. It's one thing to give money willingly, and another thing to be robbed of the money by others who think it is their due. I see your point but I'm trying to find some common ground as well as human needs to address the issue. There will be no perfect solution to this subject - of that we can be sure. But pride of ownership and ability to pass on unused portions to family are musts IMO. Qualifications would have to be met which means some people on the very top may get the short end of the stick in terms of ability to pass SS accounts to thier family. People like Bill Gates probably wouldn't care if his SS account wasn't part of his multi billion dollar estate.