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Author: Rayvt Big gold star, 5000 posts Top Favorite Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: To convert or not to convert? Date: 8/14/1998 10:33 PM
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Hell NO ! It is a pay-as-you-go insurance program that has been designed as a redistributive tax. Go ask the SS commisioner if it is a 'retirement account'... the answer is NO. Who told you it was ? Your payout benefit is indeed 'related' to your contributions, but there is NO one-to-one relationship between your tax dollar paid today and the dollars you'll get (AS IF) later. You can't follow your money through the chain...>>


All this is true. And when asked directly, the gov't says as much. But isn't it interesting that, aside from answering direct question, the government talks as if it was "your SS retirement account"? From day one, they have been doing everything they can to make people believe that they are getting their own money back, with interest.

Ray
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