Explain Social Security plans

[RRand98163@aol.com]

Bob Rosenblatt

In response to your question about the Clinton and Republican proposals to 
put very large sums from general into the Social Security Trust Fund, I have 
two comments.  First, as a device  to continue the  present modified 
pay-as-you go structure, the proposals are silly, dangerously misleading and 
purely politically inspired. They would introduce for the first time the 
concept of financing Social Security from general revenues, a step which is 
not only completely unnecessary at this time but one which removes the 
discipline of keeping benefits within OASDI taxes. Besides that, neither 
proposal does the complete job of removing the 2.1% shortfall of projected 
taxes as compared to benefits. As a device for paying the transition costs 
from modified pay-as-you-go to personal accounts, they also fall far short. 
Our leaders should put forward serious and complete proposals instead of 
playing silly political games.