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|Subject: Re: Don't worry about boomers killing the market||Date: 8/2/2006 12:45 PM|
|Author: iamdb||Number: 52909 of 81642|
I think there is blame attributable to the government. Social security taxes have not been treated as an investment pool, rather as a source of flexible funds to prop up government spending with the assumption those funds can be paid back at some time in the future. Second, unwarranted, idealogically driven tax cuts exacerbate the problem. Remember the promise of the lock box?
What would the situation with social security be had the money been invested in a responsible way, say using the same kinds of strategy a large insurance company might use? What if the surplus at the end of the Clinton administration had been invested instead of squandered with the combination of tax cutting and runaway spending? I suspect the picture could be quite different.
OlderOne at 70 who can still hop, skip, and jump
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