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User Name Thread Name Subject Posted
GUEST,Taliesn BS: 2 Setbacks for Bush (77* d) RE: BS: 2 Setbacks for Bush 09 Dec 02


(quote)
"The reason that the System is broke is that it has been raided by every administration since it started to pay for every entitlement imaginable."

Sorry, there , Troll but you be grossly *misinformed".
Social Security has been "self-paying solvent". It began to get raided as the Fed's personal "honey pot" during the Reagan "Deficit Spending Orgy". It was the Reagan Admin that "raised" the SS payroll tax ( thus on the wage-earner ) to provide "hidden funds" to try and offset the "revenue shortfalls" from the up-front "Supply-side" tax cut of which the lionshare went to the top 5% whom then turned right around and had extra investment capital to first lend those tax savings right back to the Fed in thre form of T-Notes and double digit interest rates when note investing in "military contractor stocks".

Bottomline: Both investments wound up on the backs of the wage-earner tax payers. The Reagan/Bush *bailouts* of private sector miscreants , some call it "corproate welfare" as the half $trillion$ "Savings & Loan" was the crown jewel ,didn't help any.

So let's get our fiscal-historical facts straight ,shall we please.
Oh, and people living longer nowadays get far *more* than they *ever* paid in to the Soc.Sec. fund and had it all been invested in the Stock Market , as was all the rage in the 90's , you'd have wiped out many more $trillion$ of retirement capital than the 6 $trillion$ that has already been wiped clean in 401-k's and not already "bilked" corporate pension plans.

(quote)
"No wonder they don't want to privatize even a fraction of it."

Well "they" refers to all Repubs now and the more they cut taxes the less revenue which can only translate into *Deficit Spending Spree" which means hitting the old "Social Security" honey-pot yet again until it is ALL IOU's and with the new nasty surprise of 6% "unemployment on top of ever lowering of well-paying jobs to "pay into" and replenish that fund "privatization" of IOU's kind of makes the whole "privatization" plan abyssmally moot.




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