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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Stefan who wrote (58176)	4/30/1999 12:04:00 AM
From: RealMuLan	Read Replies (1) \| Respond to of 132070

You thought they will let you to keep the money. No! They only let you trade in that account, and without right to withdraw. And I am sure a lot of people will turn their account into negative growth. As a result, the trust fund will be bankrupt faster. I don't understand that why all of them think the market only goes up? Well. Beyond me.

To: Stefan who wrote (58176)	4/30/1999 1:22:00 AM
From: JBW	Respond to of 132070

stefan, I saw a chart on what someone would make if they put $2000 a year into an interest bearing or similiar account at a rate of return around 8%. Just the 5 years from age 20 to 25 would yield over half a mil at age 62. Wish I had known that when I was 20. But to get that return and then turn it over to the govt. would be crazy. In no time they would just blow all the accounts. The only answer is true individual accounts the way Social Security was originally set up. Think if you could start an IRA for a newborn. I think we would run out of money. The system as now run can never be fixed since the govt. spends the deposits and then borrows against them. JBW