Kerry M. Kerstetter, CPA (referred to as The Tax Guru by other CPAs around the country) helps capitalists, investors & small business owners win the tax game. See www.TaxGuru.org for much more detailed info.
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Tax Guru-Ker$tetter Letter
Saturday, October 05, 2002
Privatizing Social Security
The JackAss Party is getting a lot of free publicity from its ad showing George Bush tossing wheelchair bound senior citizens off of a cliff. As with just about everything from the Dem's, this is a big misrepresentation of the truth. They claim that privatizing any part of SS accounts would subject poor retirees to the decline in the stock markets and reduce their benefits in synch with the market declines. This is an out and out lie.
It would be political suicide, and has not been proposed by anyone, to make any changes to the system for people currently receiving benefits. Any plan to allow alternative investments for SS taxes would be for younger workers, who will have plenty of time to accumulate substantial savings in the decades before they retire. As this column aptly describes, even with the gyrations of the stock market, investments there will yield a much more secure retirement than the Federal Ponzi scheme.
KMK
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 10/05/2002 01:15:00 PM Send this post:
