No. of Recommendations: 1
intercst writes:

The only trouble with privatizing social security is that current benefits are paid from the FICA the gov't collects today. There's really no vested social security assets to draw on. To preserve current benefits for Social Security recipients, you'd still have to collect FICA at about the same rate PLUS whatever contributions you want to put in the privatized system. In effect, current workers would be paying twice.

Any volunteers?

So, if that is true doesn't that also mean that those of us who are already RE will collect less benefits under a privatized SS since we won't be making any future contributions?

Patnbj - who is afraid I'm about find out some bad news....
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