Re: Soc Sec: How do private investment accounts solve the problem?

From: The Trucker (mikcob_at_verizon.net)
Date: 02/11/05 

Date: Fri, 11 Feb 2005 11:20:47 -0800

Jim Blair wrote:

>
> <ta6bx@yahoo.com> wrote in message
> news:420c954f.961665@News.individual.de...
>> On 10 Feb 2005 23:10:37 -0800, "Zerge" <zerge@hotmail.com> wrote:
>> >
>> >You have a very sketchy understanding of economy, I'm sorry to say.
>> >The "retired one" does not "tax the productive two". The retired one
>> >saved a % of his/her earnings and invested it in stocks and bonds. This
>> >investment grew. Now he/she has a good amount of money to keep spending
>> >without having to work. That amount of money will demand goods and
>> >services from the economy. Entrepreneurs will build new companies to
>> >serve that demand. The GDP of a country is not a limited asset to be
>> >"taxed", as you suggest.
>> >
>> Who produces the GDP of the country if most of that country is
>> retired. People do not eat stocks and bonds. Someone has to produce
>> food.
>
> Hi,
>
> The point that you are missing is that the current FICA applies only to
> the WAGES of AMERICAN (USA) workers.
> Income from investments come from dividends and interest paid by companies
> that are largely international and multinational.
>
> While in the USA there is 3 or4 workers per retiree, projected to fall to
> 2 or below, worldwide that is not the case, and will not be for at least
> 50
> years. So while personal savings accounts may not "solve" the demograghic
> problem, they will delay the crisis until.... well until I won't be
> worring about it :-(

So explain to us what the difference might be in applying an import
duty to the goods entering the USA as opposed to taking the dough
as dividends. I know the answer but I wonder if you do. The suggestion
here is to tax the imports specifically for the sake of funding SS
benefits, no more, no less. 

-- 
"I know no safe depository of the ultimate powers of society but
the people themselves; and if we think them not enlightened enough
to exercise their control with a wholesome discretion, the remedy
is not to take it from them, but to inform their discretion by
education." - Thomas Jefferson.  http://GreaterVoice.org

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