From: Steve Schear <azur@netcom.com>
Date: Tue, 17 Jun 1997 07:00:12 +0800
To: ichudov@Algebra.COM (Igor Chudov @ home)
Subject: Re: How much you lose under Social Security -- socialsecurity.org
In-Reply-To: <Pine.GSO.3.95.970530110010.8489F-100000@well.com>
Message-ID: <v03102802afcb5aa7a4fe@[10.0.2.15]>
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>While having more options generally increases people's well being, we
>have to expect a substantial amount of people whose investments will be
>lost in various perturbations that lie ahead.
>
>We may expect to the government to be under strong pressure to feed these
>old folks.
>
>What bothers me most is what would happen if the market went bust again
>as badly as it did in 1929-1934. I believe that it is by far not
>impossible. Then we'd get stuck in a market downturn, with millions of
>retured people with few means to support themselves, and the government
>unable to collect enough money to feed them (which is unconstitutional
>anyway).

What's the difference?  The SSA fund just has IOUs in it now and is being
funded from current revenue.  For those who do well in the market, don't
give them any SSA.  For those who invest poorly, use general revenue to
keep them off the street.  If the market collapses and most lose their
shirts how is this any different than the comming debacle.

- --Ste5e


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Steve Schear              | tel: (702) 658-2654
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