-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 On Sunday 30 April 2006 02:10, "Monique Y. Mudama" <[EMAIL PROTECTED]> was heard to say: > On 2006-04-30, Mumia W penned: > > Social Security is not driven by a high profit motive; it's > > purpose is to provide stable retirement income to people, and it > > does a fantastic job of that. > > It's not stable because it doesn't work when the population isn't > booming.
Far worse than that. It's a pure ponzi scheme, if anyone else were doing it other than government they would be in jail. There is no "trust fund", there is no fund at all. Every penny that "Social Security" taxes bring in goes directly into the general fund. It is spent. Every penny that "Social Security" send out comes from the general fund, too. The bookkeeping fiction is to count SS out verses SS in and notice that the lines are converging, and then say, "Social Security will be bankrupt in...." however long. The only effect that raising the "contributions" (as if I can say no) and retirement age has is to maintain the gap a little longer so that the money can be spent elsewhere. Social Security is bankrupt right now, because the Fed.gov has to borrow money to maintain its spending even with the extra money that SS brings in. As I said, if Congress were held to the same standards as Enron and WorldComm, they'd all be doing long prison terms where they belong. - -- September 11th, 2001 The proudest day for gun control and central planning advocates in American history -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.4.3 (GNU/Linux) iQEVAwUBRFT9li9Y35yItIgBAQK/cgf7B1saNjW+JZCgAX3llxIq5FE7Xv7Jwv8g mkCR/fX1IhX9sl1edcXx5FHq2R3deak/AHo3En4D3CECbEx05ItFHWgYvgcyQxD8 eHjDGbPKLGFTQ6yqyXlujV7esujWw8zMJEX1IGM569/xqCryvnhA5B54jfwRTNME U1PDXHG+Pyk0qCm3dFqEpx9pQucEkCoMGJt7T3F9wWmvUTb3kh86XY37zmGHNZOa JKzCgPtcJAwCFvcKt9gV6fM13CT90Lb2okmycZtNRFJ/4/yxPyFcFKE0DLEUyjEL 0C3px2JBHHnZxS+Pr4v3PZh3OoH9nK83xCeokuUymoMjJLQI6zCw9A== =nYc+ -----END PGP SIGNATURE----- -- To UNSUBSCRIBE, email to [EMAIL PROTECTED] with a subject of "unsubscribe". Trouble? Contact [EMAIL PROTECTED]
