> > I agree with them AND you. Here's how: > > 1.) Social Security should be for catastrophic failure only. That is, > welfare. And it shouldn't be much. > > 2.) Given that it's welfare, it should come from an untouchable "lock box" > fund. > > 3.) The fund should come, at least in part, from the taxes of those > not saving for retirement. > > Here's the GG plan: > > 1.) Social Security is dismantled with a particular set of people. > Say, those under 20 today. > > 2.) The existing fund is divvied up based on some formula of > contribution, savings, etc. Some people will get sorta screwed, but > the benefit is they won't have to pay SS anymore. > > 3.) Going forward, as part of your taxes, you'd have to meet a certain > threshold of savings. If you don't, you're taxed at a higher rate and > those taxes go directly to the SS fund which is untouchable by > congress or the President. > > In a nutshell: SS goes away, those that know how to save get too, and > those that don't go on Welfare pensions. Along the way if they didn't > meet the savings threshold, they are taxed the equivalent of what SS > is today. > > What d'ya think?
Well, that's not a bad idea because it would satisfy my big complaint: I'm able to save, I don't want to pay into SS or worry about it being able to pay out to me upon retirement. Other people can choose not to save, and roll the dice with Social Security. What you are actually suggesting here, is a more radical version of Bush's plan. In your plan, my contributions that would have gone to SS, can now go ENTIRELY into a private, individual account. I can completely steer clear of the SS mess, while others can opt to take their chances with it. Still, I don't think your idea is all the different than Bush's. Let people invest some of their own money, but make sure they are saving it. (can't take your SS money and buy a Corvette) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Stay Ahead of Hackers - Download ZoneAlarm Pro http://www.houseoffusion.com/banners/view.cfm?bannerid=65 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:164769 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
