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To: TimF who wrote (111964)	4/30/2005 8:09:02 PM
From: Lane3	Read Replies (2) \| Respond to of 793958

than I think you can't justify a wage tax (or a sales tax or whatever) to pay for social security. Well, at least with a wage tax, you're taxing the people who will someday benefit. That's better than redistribution with no rationale at all.

To: TimF who wrote (111964)	4/30/2005 9:07:13 PM
From: rich evans	Read Replies (1) \| Respond to of 793958

I'm on tw's side. Although SS was sold and called an insurance /retirment/pension type program, it never was as no risk or trust or assets. Under the unified budget legislation all the ss funds collected have been spent for general purpose. In 2018 when payments to SS exceed SS funds collected, the difference will come from the general tax fund. Whether this is a unfunded implicit liability of the Government or an explicit liability from the issuance of SS notes is meangingless. It's as if I signed an installment promissory note for a million dollars to myself and put it in my pocket to cover the next 25 years of expenses. I still have to earn money to pay these expenses or pay the installments of the note and then use the money to pay the expenses. This whole thing is a farce and not allowing Americans to divert 4% to real assets is treating us like idiots. An those that chose to divert 4% would not get lower SS payments in the future so the net unfunded liabilities would not increase. It would just be a timing issue. We would pay from general funds before 2018 SS since we are collecting less but would owe less in the future to the retiress who choose to have a real retirement asset. Rich A