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Since I started this thread, I'll jump back in. I agree that social security is turning out, in the long run, to be a horrible mess. But of course, I'm not going to refrain from applying for mine. As someone has already stated, I will be one of the luck last to draw and will, in fact, get back more than I contributed. I'm a Nam vet and turn 59 on Oct 16, 1999.

Currently my preferred "fix" is the "fair tax" plan now being put forth by Hon John Linder from Georgia. If the published figures are correct on this plan, no more withholding, FICA or otherwise, would be required. There would be no income tax, capital gains tax, nor inheritance tax. In fact, there would be no other federal tax at all. A 23% federal sales tax, with standardized refunds based on family head count to cover taxes on essentials, would be enough to cover all existing federal programs. It obviously shifts the tax from savings to consumption. It would also keep me from having to develop various strategies for leaving something to my offsprings and grandoffsprings without Uncle Sugar getting a big chunk.

Probably will not fly since it cuts out ALL special interests and tax dodges that are built into the present system.

FoolishProf
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