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Reply to "Is social security really at risk of going away ?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My take on what might happen (and I’m not an insider or expert). The administration will declare (by fiat) that all workers can opt out of payroll taxes, and invest the savings in private 401k plans. Almost all younger workers would choose this option. Since SS is a pay-go program, younger workers declining to pay in would cripple the ability to pay for current and near-term retirees. Elon says “see… it really was an Ponzi scheme!” and starts ramping down payments. End of SS.[/quote] I believe that this is the line on the sand for politicians by because they know this would be the end of their political careers. [/quote] Republicans do not seem to think this is a line in the sand and are going for it. One wonders why, if they have been bought off? $250 million bought a Presidency, and a similar amount would give Republican members of the House and Senate not have to worry about their own retirements.[/quote]
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