On Tue, 19 Aug 2008 08:54:30 -0400, "Earl of Warwich, Duke of Cornwall,
Marquies of Anglesea, Sir Reginald P. Smithers III Esq. LLC, STP. "
wrote:

hk wrote:
Eisboch wrote:
wrote in message
t...
On Mon, 18 Aug 2008 22:15:41 -0400, Eisboch wrote:


No they are not. The Norwegians are using their oil wealth to pay for
a social welfare system.
When demand for oil begins to ease, they will need to sell many more
cans of sardines to maintain their social utopia.

Eisboch
It may not be enough, but Norway has used it's oil wealth more
intelligently than most.

http://www.theglobeandmail.com/servl....w-OS-main-31/

BNStory/oilsands


By the way, Norway's oil production has peaked.



Absolutely true, and they have a tremendous cash surplus. They have
taken advantage of the age of oil.

My point is that when that revenue stream erodes and the cash is used
..... what then?
This may sound harsh or crude, but it's much more difficult for all
concerned to take welfare benefits away from people than it is to have
never made them available to begin with. The Social Security program
in the US is a good example. Over the years it has become a political
hot button as changes are made, benefits are reduced or restricted (by
age) in attempts to keep it solvent.

Eisboch






Easy solution...take the earnings cap off Social Security, and apply the
tax to *total* income, no matter its source, and double or treble the
rates for income over a certain very high level, including "deferred"
income.



Is that "certain very high level" a few dollars more than you make?
Sort of like, we should have a extra tax that use more gas than your Parker/

As long as the benefits went out in proportion to who paid in, that
wouldn't be so bad.
--
** Good Day! **

John H