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

To: Road Walker who wrote (224798)	3/18/2005 12:59:06 PM
From: Joe NYC	Read Replies (1) \| Respond to of 1571200

John, Yet, you want to add more debt with the private account scheme? If the end effect of all the changes is that for each $1 of debt, we erase more than $1 of unfunded liabilities, it may be a good deal. As far a debt, it is a big problem in a country with very low savings rate (such as US). But the private accounts would create more than offsetting build up of capital. That along with raising the FICA cap, slightly increasing the FICA tax rate, changing the COL adjustment to an average of wage and price inflation, would solve the SS problem. Increasing the retirement age should be part of the mix. As far as rate or cap increase, I think there is a way to make it acceptable to Bush and Republicans.. If every dollar of the increase goes to people's private account, is it really a tax increase? One can argue that it is not, thereby allowing Bush to keep his "no new tax" pledge. Joe