Who benefits, also, is (temporarily) the economy, but it's artificial. SS holds a massive surplus, currently. Even taking only 4% of the FICA (and even only 4% of a limited amount of the current surplus), and putting that into the stock market, and it's still a big shot to the arm, and still creating a bubble. This will boost the economy, but not necessarily in the way we really need.
I'll get into that tomorrow when I finally take a break from chapters 19-22 and ponder how international economics works, and just what our massive 'trade deficit' really means.
And I still can't find that article written by a nonpartisan accountant about the reasons for creating SS, the public's understanding of what it does, and the cultural issues that have created a reliance on SS...when I do, I'll post the link. It's definitely worth reading...if I could just find it again! Grrrr.
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Date: 3 Feb 2005 08:04 pm (UTC)I'll get into that tomorrow when I finally take a break from chapters 19-22 and ponder how international economics works, and just what our massive 'trade deficit' really means.
And I still can't find that article written by a nonpartisan accountant about the reasons for creating SS, the public's understanding of what it does, and the cultural issues that have created a reliance on SS...when I do, I'll post the link. It's definitely worth reading...if I could just find it again! Grrrr.