Tom; <off TOPIC > I'm over 61 and have watched the most well intentioned deals this Government has put forward go to hell in a hand basket.
You will never have any guide lines they won't break, bend, or
twist in some way if that S.S. money gets comingaled into the
market. And even when you catch them at it , it's always to late,
& they mostly wiggle out of it. About all you can do is toss them
out or such, ( with big retirements ) this after they have ripped the tax payers off ! Once in a blue moon you might send one to some
high class prison, ( the one they have reserved for these guys
has privet rooms and a gulf course ) that's a fact.
------------------------------
S.S. should not be in a bind of any kind, this bind was created
by the same bunch that was opposed to S.S. to start with, there have
already been massive abuses in respect to how the fund has been
managed swept under the table. And they don't want to talk about
them. For years they did nothing but park it in the central
banks and it never getting any interest paid on it at all.
The fight to stop that was hard , but by and large they have
used it more as some slush fund than a trust.
Most of the budget surplus this year is due to S.S. tax, and
already Gingrich is talking about using it for this or that,
they have not got over the notion it is not supposed to be a
slush fund. Nor was it to be commingled and mangled the way
it has been over the years, to trust these type of
people who have a history of lieing to put this in the Market
is very naive. But I do understand their ability to sell the idea
and push it through.
--------------------------
The above aside look at the basic principle ,
It goes "you now must invest in the stock market via the government no matter if you want to or not" and when the government
collects taxes to support the stock market we are crossing a line
that has worse ramifications than any thing the communist ever
thought of. This is an extreme from of communism that is turned
inside out, very extreme, and the only real beneficiaries in the
long run will be the maggots and insiders of Wall Street. & You can bet on it.
--------------------
To fix it is to simple, but will meet opposition from almost every
corner. "The rich get richer , and the poor poorer, with the poor
helping to arrange it" quote by Will Rogers
maybe not the exact words but close enough <G>
Any way S.S. was started as a insurance trust, to catch those who
worked hard during their life but for one reason or another fell on
miss fortune. It was opposed by the radical right, they same ones
that had their hand out at the time and still do for cooperate
welfare, it was opposed by the same ones who helped arrange the
S&L fiasco , and then created a RTC to bail it out, and hid
the cost into your national debt. These radical rights have no
problem with big business going on the dole and getting government help, but hate the thought and can't sleep at night if
the government does something for the little guy.
They opposed S.S. , and when they didn't stop it they turned it into
a slush fund , and made it an entitlement program, instead of
an isurance trust. It was never meant to be an entitlement
program, just an insurance trust, but they knew if they turned
it into an entitlement type program that it would eventually
fall, this is what they wanted it to do anyway, then they could say
see we told you so.
---------------------------
To fix it just take it back to an insurance trust, kick off the
millionaires , and all the other fat cats off of it. Stop the your entitled no mater what, and test reciprocates by some sort of reasonable means test. You would almost immediately find you already have funds
to go well into the next century with no problem, and be able
to reduce the S.S. tax by 60% or more.
The vast majority of S.S. money is spent by administrating money
out to people who have no real need for it, but regard it as
an entitlement. You would be shocked at the waste and the greed
of even some of your ex public servants that are getting huge
retirement packages already, but insist on also getting their
S.S. check, it was never meant to be used and abused that way,
it was meant to be just a simple insurance trust to protect widows and orphans, and them that worked hard but had some problems, ( such as their pension fund went belly up ) from finding them selves in
a destitute situation .
Have you looked at how many pension funds in the privet sector that didn't really pay off any thing like the workers were promised,
most of that is swept under the table..& not nice to
talk about. Them people really need S.S. but about half that you got
sucking it down need it as much as drunk who needs that one more
drink for the road drink.
They will argue that their S.S. is taxed and they don't get as much,
but that's also sick, and more taxing of tax and useless administration cost, but it gives some uncle or nephew in law a job.
So they won't make it simple, no way..
----------------------
This fruit cake idea of theirs, of putting it in the stock market
and telling people it will not last if they don't galls my guts.
They have no scruples at all, while we might have a few good
people in politics the sick out number the good ones so much that
I don't think there is much chance of stopping this obscenity.
-----------------
Well I've said my two cents worth , and can at least sleep at night
feeling that if it comes at least I opposed it in sprit , & spoke
out against it, maybe not to clearly but with out mincing my words.
If it goes into anything other than Government bonds it will beget
and create more corruption than we already have. This is power
to steal like I've never heard of, and no guide lines will every
stop the greedy from finding a way around them. It will lose the
rest of it's original purpose..and become nothing but
a political foot ball, and another way to feed wall street.
----------
It's worse than &%#!, politicians that suggest this know better
they dam well know better, and in doing it they disgust me
each and every one of them. As much as I jump on Greenspan
at least he said a Flat NO to the idea. ( but the banking
committee walked out on him right after ) so I guess they
will in time pressure him to at least do a maybe.
But from me it's a NO unconditional and with no room
for debate , no political foot ball, just a Flat No.
NO to; Tax money going into the market we give the fat cats
enough perks as it is.
No to opening up the door to unlimited
temptation and all the fights and crap the greedy will have
to control it and where it goes, this will create a myriad of
problems at a time we already have more on our plate than we
know what to do with.
NO NO NO just say NO ..
|
