Posted on 04/28/2005 4:00:18 PM PDT by Howlin
What moral hazard?
The private account isn't really. Investment would still
be mandatory, just placed in the private sector instead
of the existing Ponzi. It's still socialist but a little
less so.
I'm not sure I understand. Your eyesight seems to be an issue, which must be pretty scary. However, the illegals I see just seem to be here for muscle power and do unskilled work where certainly they have to have acute eyesight but don't have problems like yours. I have an acquaintence who graduated with me who was legally blind even in law school and is now a judge. I am troubled by your list of difficulties and don't know what to think.
"It is time to start playing hard ball with these losers."
I'm late to the party as usual, but you nailed it, Force!
Now...all of us that HAVE Republican Senators and CongressCritters need to get on the stick and start e-mailing an calling our representatives! We RedHeads stuck in Blue/Blue-ish states NEED your help!
I'll help in prayer because I have Herb Kohl, Russ Feingold and Tammy Baldwin "representing" me. (All DemonRats, for the unenlightened.)
Throw me a rope! ;)
| Get Smart | Don't Get Screwed |
| Personal Accounts | Security Net |
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(New Social Security)
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(Old Social Security) |
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You own taxes withheld
Large retirement checks
Large nest egg
Wealth generator
Will remainder to family
Phenomenal compounding
You manage your portfolio
Stock market returns
Bond market returns
You own your account
No risk, you own
Liquidates unfunded liability
No benefit cuts
No new taxes
Low administration costs
Fund democracy worldwide
Free market mechanism
Business principles
Poor Benefit
|
You never own taxes withheld
Small retirement checks
No nest egg
No wealth generated
Nothing to will to family
No growth potential
No portfolio to manage
None
None
Government owns it
High risk, benefit cuts
Increases Unfunded Liability
Benefit cuts required
Tax raises are required
Higher administration costs
Government wastes your taxes
Government Socialism
Confiscation and redistribution
Poor kept barefoot
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1) Here we assume a 22 year old works for 45 years and retires at 67 and 12.4% of payroll tax is placed into the taxpayers personal retirement account. (2) Amounts stated in 2005 Dollars for easy comparison. (3) All returns are determined by investing the principal in the bank and living off the interest. |
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The Promise of the Ownership Society
On the navigation bar on the left under "financial examples" you will find that those making $30/hour and $75/hour accumulate nest eggs of $1,786.946 and $2,577,326 respectively. The ordinary voter doesn't have to be a rocket scientist or a brain surgeon to figure out that the sums accumulated by families with two working parents will also be enormous. That by allocating a portion of that accumulation to pay for medicare, life insurance, long-term care, disability , survivor benefits, welfare and the like is a real possibility. The private sector would sell their soul to get the business. Rates are always cheap when the young are the participants. Those companies can also benefit through compounding over time to cover their risks with the security of spreading that risk over such a big pool.
Social Security is the first step to building an ownership society where the individual reigns and the government specializes, not in social engineering, but in performing mostly and hopefully only those tasks spelled out in our constitution.
-Dick McDonald
Dick McDonald is a writer/businessman that spent his apprenticeship at a major accounting firm as a Tax Specialist and ventured out into a myriad of business ventures in the agricultural, entertainment, securities, research and development, and high-tech fields. He writes The Right Scale blog. He has over 100 articles on Social Security posted there.
Your rant sounded better than my one sentence question---
First of all SS is not supposed to be someone's only retirement fund, but if it is, it would be so much better if they had some control over it, like the Thrift Funds that the CONGRESSCRITTERS GET!!!!
Maybe you should add "illegal alien" to your resume?
This the best news conference he has ever had.
"which if it fails, and leaves the investor too poor,"
As apposed to......putting into the current system where you get none of the money other then in benefits? If your lucky. How can that investor get "too poor"? He or she now does not have any of that money to begin with.
P.S. You do know the laws of compounding interest right? And you do know the proposed portion of money to be taken from each individuals SS tax for the private account is a whopping 3% of 12.4 %.
Sen. Hutchison is on the Senate floor talking about illegal immigration right now on Cspan 2
I know I would appreciate a digest at times. I did get a ditto on this thread concurring with my opinion.
I thought he was outstanding tonight. In control. Demonstrating leadership. Wow. Better than I expected. I don't know if it was his best but it surely was top notch.
You have got to be kidding.
I think the mistake the Republicans made was allowing the Dems to frame the debate from the start, the plan is voluntary, you can't repeat that word enough. It's giving the option for that solid 35% who are for personal accounts to invest their money for a better return. Doing what you want with your own money at your leisure sounds reasonable to most people, on the other hand personal accounts being pushed for everyone turns some people off. I think it would be such a shame if the Democrats win this issue, because I'm young and I want to have that opportunity. All my parents give a damn about is getting their own checks.
blushing...... thanks but the guy was moaning about something he could have taken care of himself.
It does? :D
I did not say that. Direct your query to the person who did.
I'll accept your apology when you muster up the integrity to offer one.
What is she, an actress?
You got some "splaining to do Lutcy".
She is American Royalty. Great Grand daughter of the
Conrad Hilton of Hilton Hotels. Very wealthy and therefore
appears to make her own rules in life and has a very
controversial lifestyle to say the least. The past couple
of TV seasons she has had a reality TV show with
Nicole Ritchie, daughter of pop legend Lionel Ritchie.
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