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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (3608)	3/4/1999 11:26:00 AM
From: Wally Mastroly	Respond to of 15132

Dow's Recent Performance, etc. thestreet.com

To: Wally Mastroly who wrote (3608)	3/4/1999 9:02:00 PM
From: Boca_PETE	Read Replies (3) \| Respond to of 15132

RE: < Cut debt, help Social Security ? > NO WAY -JOSE !. On first hearing, sounds like a great idea - would reduce the annual interest expense burden on a lesser amount of outstanding national debt. BUT STOP AND THINK ABOUT IT ! The debt arose because the government SPENT more than the taxes it collected leaving a huge interest bearing credit card balance - the national debt. The current so called "budget surplus" represents entirely EXCESS SOCIAL SECURITY TAXES COLLECTED over SOCIAL SECURITY BENEFITS PAID during the current period. So by paying down outstanding public debt with our social security tax collections, THE GOVERNMENT IS REALLY FUNDING GOVERNMENT SPENGING with our SOCIAL SECURITY TAXES -they're just paying off past bills for past government spending, instead of holding those excess social security taxes in the social security trust fund and investing them prudently (as a pension fund is required by law to do). YES- SOCIAL SECURITY SURELY NEEDS TO BE SAVED FROM POLITICIAN PROPOSALS TO "SAVE" SOCIAL SECURITY by PAYING DOWN THE GROSS PUBLIC DEBT with social security tax collections. NATIONAL DEBT should only be paid down WITH REAL SURPLUSES above and beyond excess social security tax collections ! The best and most honest solution is to return such such excess social security tax collections to individual (IRA Like) accounts for taxpayers for taxpayers to invest. The next best solution (by a long distance) is to have the government invest such excess social security taxes in broad based index funds of equities and bonds with equity shares voted (by law) in the same proportion as non-government equity holdings (so as to prohibit government influence in the private sector from distorting capital investments for political purposes.). P