WS>>"Privatization" of Social Security Poses Risks
tom.matiska at ATT.NET
Sun Aug 5 06:40:22 MDT 2001
It is no step. The term "lock box" is political econo-
babble of the worst kind. If the current surplus of SS
revenue continues to be "invested" in govt bonds, no
problems are solved. The only difference between the
current "trust fund" and proposed "lock box" is they are
spelled differently. When 70 million boomers retire and
the bonds in the "lock box" have to be redeemed on the
back of taxpayers, that difference in spelling won't
The system doesn't necessarily have to be
individualized, but the investment must be shifted to
the non govt sector. Stocks, real estate, gold, of some
combination thereof, but not govt bonds.
> Its a first step. IMHO the only solution is total individualization.
> make them all private and separate.
> This is the Chilian system.
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