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Politics : Bill Clinton Scandal - SANITY CHECK -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (13249)	11/5/1998 9:24:00 PM
From: Les H	Read Replies (1) \| Respond to of 67261

I've heard Ralph Reed speak on social issues. What little I've heard him speak on financial issues doesn't encourage me about fixing the tax system. They need to first separate the Social Security system from the General Revenues in order that the issue of Social Security be dealt with honestly. What one finds is the system runs a surplus of $ 100 B where it is paying out $ 350 B in benefits. The other thing that's exposed is that the Federal Budget Deficit is bigger than $ 30 B since the Feds issue 2% non-marketable bonds to Social Security. If the Social Security were to get market returns of 4-5%, one would find Social Security is not in trouble but may be overfunded. I don't know much will happen. There was a bipartisan commission on Entitlements in 1993, 1994, or 1995 that made recommendations. Clinton did nothing with that. I think both sides are going to waiting for the other side to put up a proposal that can be used against them.

To: Lizzie Tudor who wrote (13249)	11/5/1998 9:45:00 PM
From: Les H	Read Replies (2) \| Respond to of 67261

The "Saving Social Security" theme is actually a smokescreen for the Clintons. The articles I've read so far focus on the impacts of the retirement and widowhood on women and Social Security's role. Several case studies seem to be the focus: (1) women who work in low wage industries their whole lives; and (2) women who outlive their husbands and find their monthly pension cut in half upon death of their spouse. There will be an attempt to increase benefits. Again, as in the minimum wage, this is to be expected that there will be wide disparity among benefits caused by location of the country in which one works and pays social security taxes. People who live on the coasts are going to get screwed because they paid higher taxes and the progressivity in the benefit schedule penalize them for it. (Also, they're not dealing with the Social Security Disability and Supplemental Income programs which is riddled with fraud.)