The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Don't worry about boomers killing the market||Date: 8/3/2006 1:44 PM|
|Author: DeltaOne81||Number: 52931 of 77871|
Come on now, Goofy. We all know that any examples of Christians intimidating, attacking, killing, or otherwise doing anything that it typically blamed on 'the muslims' just doesn't count if its inconvient to the case of attacking the problems of others and ignoring our own.
I believe that this interpretation is just plain incorrect. Surplus SS funds are not "pegged for somebody else", they are a general surplus.
I fail to understand how taking a portion of the surplus funds, which is small enough to meet all of our current obligations under SS, earmarking it for the individuals who contributed it and allowing them to have some say in their own financial destiny can possibly be a bad thing.
Of course the surplus is 'pegged for somebody else'. Its pegged for all the people that need social security benefits on the day after the surplus turns into a deficit. In 2018 or whatever it is. So its pegged for benefits in 2018, 2019, and beyond.
I never said it was pegged for other people *today*, but if I'm not 65 until the 2040s, then they're giving me money now that is needed for others well before then.
Now, as I said, the current system of saving that in your "lets spend this" fund is ludicrous as well. But that doesn't make it any better to promise benefits to people in 2019, 2020, etc... as well as tell people that they can keep that *same* *exact* *money* for themselves in personal accounts.
Many of the people who will be collecting SS at that time are retired already, or will very shortly be retired. So the 'personal accounts' will do nothing for them.
So on one hand you have a 'lets save money by spending it', and on the other side there's 'lets promise the same dollars to two people and hope nobody notices when we start massively borrowing to cover up our double allocation.' Neither house-of-cards is superior to the other. They all look the same after the wind blows through.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|