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

To: Neocon who wrote (35140)	2/23/1999 9:14:00 AM
From: Les H	Read Replies (2) \| Respond to of 67261

A needs-tested system would require 4-5% withholding tax according to the various privatization plans put forward. Social Security is a problem that is going to be continuously passed onto each succeeding generation. It was a pyramid scheme from the start. The fault also lies with the expansion of the disability benefits program even while the system's future is in doubt. (The same can be said of Medicare.) Japan already has a 24% payroll tax. They already have the demographic situation that the US will encounter in 20 years hence. The United States of Europe is in a similar predicament. Opting out of the system is what many of the governments are looking to do. Opting out is already an option for state employee associations. Having IRA's, 401K's, 403B's, contribution come out of pre-FICA tax dollars makes imminent sense.