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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (112843)	5/7/2005 7:44:07 AM
From: Lane3	Read Replies (2) \| Respond to of 793838

there will no more i.o.u.'s left in the trust fund, so everyone's benefits would have to be cut by 27 percent One of the oddities in this national debate to me has been that no one has mentioned that there is a cut in benefits something on the order of 27 percent either way. Either we keep going the way we're going and the shortfall forces a reduced benefit on that order or we switch to price indexing and plan a reduced benefit on that order. Technically, the former is insolvency and the latter not, but both hit the wallet more or less the same.

To: LindyBill who wrote (112843)	5/7/2005 9:44:34 AM
From: DMaA	Read Replies (1) \| Respond to of 793838

The security of SS is an illusion. If the economy goes to hell, stock prices tumble and the value of your pension evaporates. If the economy goes to hell, tax receipts evaporate and there's not enough money to pay SS benefits. What's the difference?

To: LindyBill who wrote (112843)	5/7/2005 4:03:32 PM
From: KLP	Read Replies (1) \| Respond to of 793838

Would this idea for SS work? so everyone's benefits would have to be cut by 27 percent. What would happen if, as of the end of June this year, EVERYONE's SS benefits for every future year, were stopped at the present rate they are today. In other words, whatever the rules are today for payments, the rules would freeze as of June 30, 2005. For everyone, and all in the future. Then, at the same time, the dollar difference between what the pay rate is today, and what it was projected to be at anytime in the future... is taken OFF the person's income tax every year. The idea being that the person could actually use that difference in the SS actual money paid, and the SS projected money, to put in the savings vehicle of their choice for their own retirement. The SS fund would be solid. The individual would be able to direct their own future resources better.