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Re: [OM] In case you hadn't heard....

Subject: Re: [OM] In case you hadn't heard....
From: Nathan Wajsman <photo@xxxxxxxxxxxxxx>
Date: Wed, 19 Mar 2014 18:17:11 +0100
This is a fiction. The money you pay into SS is used to pay today's pensions. 
It is not squirreled away for your future retirement. Those benefits will come 
out of the SS taxes paid by your children. It is the most hare-brained 
retirement scheme in the world. It was set up this way, with a cosmetic layer 
of something that looks like insurance, and the whole ridiculous trust fund 
fiction, so that it would be politically palatable. A normal system financed by 
taxes was considered to "socialist" for the US. Nonetheless, that is exactly 
what SS is.


Nathan Wajsman
Alicante, Spain
PICTURE OF THE WEEK: http://www.fotocycle.dk/paws
Blog: http://nathansmusings.wordpress.com/


On Mar 19, 2014, at 5:56 PM, Charles Geilfuss wrote:

> The system (or scheme, if you
> prefer) is designed such that what you receive in benefit is determined by
> what you pay into the system.

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