Article View: pnw.general
Article #746Re: Tax the rich!
From: Andrew Klossner
Date: Wed, 23 Dec 1992 18:10
Date: Wed, 23 Dec 1992 18:10
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"Town Hall had a discussion on SS the other night. One critic
said that the SS ``trust'' fund is completely gone. Empty!
Kaput! Drained!"
It's a matter of perspective. The surplus of FICA tax income over
entitlement outgo has been invested in Treasury bonds. In other words,
"loaned" to the rest of the federal government.
But what else would you do? Say you're the fund manager and you're
sitting on 100e9 dollars for ten years. You can't stuff
thousand-dollar bills into your mattress -- you have to invest the
stuff somewhere. Treasury bonds are the "reasonably prudent"
investment of choice here.
The interesting question is: are those T-bonds held by the feds
included in the figure reported as the national debt?
-=- Andrew Klossner (andrew@frip.wv.tek.com)
(uunet!tektronix!frip.WV.TEK!andrew)
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Path: arc1-ca.pugleaf.net!sparky!uunet!news.tek.com!shaman!frip!andrew From: andrew@frip.WV.TEK.COM (Andrew Klossner) Newsgroups: pnw.general Subject: Re: Tax the rich! Message-ID: <2381@shaman.wv.tek.com> Date: 23 Dec 92 18:10:26 GMT References: <1533@nazgul.UUCP> <13088@sail.LABS.TEK.COM> <2377@shaman.wv.tek.com> <4104@master.CNA.TEK.COM> Sender: news@shaman.wv.tek.com Reply-To: andrew@frip.wv.tek.com Distribution: pnw Organization: Tektronix Color Printers, Wilsonville, Oregon Lines: 21