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From: jpexg@mit-hermes.ARPA (John Purbrick)
Newsgroups: net.taxes
Subject: Re: Re: SS deduction
Message-ID: <2377@mit-hermes.ARPA>
Date: Fri, 26-Apr-85 14:39:10 EDT
Article-I.D.: mit-herm.2377
Posted: Fri Apr 26 14:39:10 1985
Date-Received: Sun, 28-Apr-85 06:10:52 EDT
References: <5762@duke.UUCP> <121@pyuxh.UUCP> <632@ssc-vax.UUCP> <434@hou5h.UUCP> <2136@sun.uucp>
Organization: The MIT AI Lab, Cambridge, MA
Lines: 15

> In article <434@hou5h.UUCP> mgh@hou5h.UUCP (Marcus Hand) writes:
> >
> >Furthermore, these people have contributed to the SS pot through their
> >working lives and have a RIGHT to expect the promissed payout. 

Another point that hasn't come up yet is that Social Security payments (and,
of course, taxes) increased grossly in the 60s and 70s. The result is that
retired people whose working lives were mostly earlier than that recoup their
total lifetime payments in very few years--and they can expect to live for a 
decade or two. After that it's all gravy. Is the "promised payout" to be 
based on the contributions made earlier, or on what can be extracted from 
today's workers? Do today's taxpayers have a right to raise SS taxes to 25%,
as will be necessary if they (we!) are to get the same benefits as today's 
retirees do? We should all raise large families! More workers in 30 years 
time is the only solution to the problem.