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Re: Status of Social Security Changes
Old 09-11-2005, 02:27 PM   #21
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Re: Status of Social Security Changes

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If private accounts do come into being I think they would benefit a small percentage of investors
I wasn't suggesting private accounts, or any sort of qualified plan. I was suggesting that all taxes be removed on capital gains, dividends, and interest for everyone. Everyone would have an equal opportunity to invest for their future in low cost accounts, regardless of who they work for.

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Re: Status of Social Security Changes
Old 09-11-2005, 02:40 PM   #22
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Re: Status of Social Security Changes

Michael,

Apologies - I misunderstood. I think I agree with you as the financially savvy manage to shelter a lot more of their unearned income in tax advantaged accounts.

Moghopper,

Thanks for the Wharton School link which also discusses some of the problems with the company pension plans. In the UK private pension plans got a double whammy. A few years ago (still under Tony Blair) the government looked at the extremely well funded company pension accounts and changed the law so that funds going into those accounts were taxed. The sharp drop of funds flowing into the accounts plus the big drop in the stock market has left many company plans in deep doo doo and there is still much debate going on as to how to fund the increasing numbers of those funds going belly up leaving their retirees high and dry.
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Re: Status of Social Security Changes
Old 09-11-2005, 04:08 PM   #23
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Re: Status of Social Security Changes

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Originally Posted by Alan
The sharp drop of funds flowing into the accounts plus the big drop in the stock market has left many company plans in deep doo doo and there is still much debate going on as to how to fund the increasing numbers of those funds going belly up leaving their retirees high and dry.
A friend of my wife just married an English lad this summer. His dad (and I have to admit, I don't have the whole story) seems to have lost his entire pension due to some shenanigans.
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