Dave Hall wrote:
You want basic facts? I'll give them to you.
Fact #1. SS is a ponzi scheme which is heading for insolvency, at a
time when most of us will need it most.
Wrong. Social Security is not headed for "insolvency" for who knows how
long. Since the changes in policy from the early 1990s, the date (2041)
at which Social Security tax revenue dips below benefits payouts has
moved ahead. In other words, current policy (established by a largely
non-partisan board) is working.
Fact #1b- President Bush's proposed plan does *nothing* to change the
potential imbalance between SS revenue & payouts.
Fact #2. A private account is more secure than a government supervised
"money pool".
Fact #2b- President Bush's proposed "private SS accounts" will be gov't
supervised.
Fact #3. People generally don't like paying taxes for something that
they receive no benefit from.
Fact #3b- people generally don't like paying taxes. Some people have
such a paranoid hatred of any tax that they will invent all sorts of
ridiculous slander.
Fact #4 Galveston Texas opted out of SS on a loophole over 20 years
ago, and set up a private account system which yielded a much better
return for those who selected it. The private account model is already
there and it worked.
So why don't you move to Galveston?
BTW there are a number of problems with Galveston's program. For one
thing, it does not provide the type of insurance coverage SS does... for
another, it is available *only* to county employees, not every
citizen... a limited pool with more secure incomes, limited risk
exposure, etc etc.
I can go on if you want.
Suit yourself. Your "facts" are pretty much the same as always... what
shred of truth is occasionally found has been slanted heavily towards
your irrational prejudices.
And don't forget fact #6- Social Security does not change the basic
reality that saving & investing your own money wisely is the best means
to providing a secure future for your family. President Bush's plan
doesn't change that either, nor does it encourage it much.
DSK
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