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Author: Bachert One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19221  
Subject: Re: Tax On Social Security Benefit Date: 3/28/2000 5:13 PM
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At the very real risk of starting a major flame war with those who seem only concerned with niggling at the margins of a flawed and failing SS system, have the American people become such fools that they willingly continue to tolerate what amounts to a government wealth transfer from working black men to retired white widows? Look at the mortality tables if you don't believe me.
Then there's the case of Galveston County, Texas which withdrew from SS a number of years ago and invested in REAL companies, NOT rapidly depreciating government paper IOUs which are simply a claim -- under threat of force -- on the wealth of our grandkids. Galveston retirees now receive something like FOUR TIMES what the hapless SS recipient will get at retirement. Continuing the fraud of SS nearly assures that the "Golden Years" these folks are looking forward to will be more like badly tarnished brass.
A DEMOCRAT sponsored study of entitlement and benefit programs disclosed that a child born around 1/1/2000 would have a full 84% of his or her lifetime wealth confiscated to pay for them unless they were severely curtailed. And DO NOT be conned with all this talk about a "surplus" with which the politicians plan to "save" the Ponzi scheme called SS. The best they will EVER be able to do is put it on a fancier life support device -- for a little while longer. It's more smoke and mirrors from DC.
I'd like to kick off a serious conversation on the fast approaching and unavoidable national conversation we WILL have about PRIVATIZING retirement here ala Chile and Galveston County.
Any takers??
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