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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: GST who wrote (17575)	2/12/2009 12:42:03 AM
From: Larry S.	1 Recommendation Respond to of 71456

I'm very much aware of its design as a pay as you program. But Reagan, based on the Greespan Commissions recommendation, partially changed its nature. They increased the Payroll tax rates with the "claimed" intent of creating a surplus in the TF that would supplement revenues when the BBs retired. As a result of the action, the TF is effectively a partial pension fund for BBs. They contributed the majority of its value to date. I say 'claimed' because some believe it was done to take advantage of the Unified Budget to hide the increased deficits resulting from the tax cuts. I had expected him to eliminate the Unified Budget but he didn't. It is legalized Fraud. Remember, Goldwater didn't vote for his tax cuts and understood the fraudulent nature of the Unified Budget. Bush Sr. increased the payrole tax rate paid by the self employed but he did it to correct unequal treatment of employees as opposed to the self employed. Larry