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On 16 Feb 2005 22:27:06 -0800, wrote:
Some snippage.
The government has been giving tax relief to people establishing
individual retirement accounts for decades. That is a good idea, and it
certainly isn't something that Bush dreamed up.
Diverting 25% of SS impounds into the stock market, when the SS system
is already in trouble, may not be wise. It certainly isn't the least
bit necessary, as there are already a number of tax sheltered accounts
and schemes in place through which an American can establish a personal
retirement savings.
Social Security: Don't count on it, but don't take it away from those
who are truly in need.
The diversion of some SS withholdings into some type of investment would cause
people to get involved in their own savings for retirement plan. There are many
folks, unlike you, who have *not* taken advantage of any of the various
government plans.
For folks like you, who have been maxing out their traditional IRA's, Roth
IRA's, 401K's, SEP's, etc., etc., the SS check at age 62 is just a little icing
on the cake anyway. :-)
John H
On the 'PocoLoco' out of Deale, MD,
on the beautiful Chesapeake Bay!
"Divide each difficulty into as many parts as is feasible and necessary to resolve it."
Rene Descartes
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