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Article #771

Re: Tax the rich!

#771
From: Andrew Klossner
Date: Wed, 30 Dec 1992 19:59
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	'It seems to me that $1 invested in private industry will
	improve the economy more than $1 invested in the government.
	When I retire in the year 2025, I'd like to be able to say:
	"because of my social security dollars, US industry is large
	and profitable"'

A private pension fund manager is required to manage the fund so as to
preserve the pension, and is not allowed to put social engineering
objectives over this fiduciary objective.  The US stock market is
particularly ill-suited for investment of Social Security funds.  Such
an investment would drive the prices of those stocks up to a new level,
and then the prices would come down when the baby boomers retire and
that stock must be sold.  This would devastate the program.

In fact, there really is no suitable vehicle in which to invest all
this money.  But that's not likely to be a problem under the present
federal policy.

  -=- 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: <2399@shaman.wv.tek.com>
Date: 30 Dec 92 19:59:46 GMT
References: <2377@shaman.wv.tek.com> <4104@master.CNA.TEK.COM> <2381@shaman.wv.tek.com> <1ho6kcINNjih@usenet.pa.dec.com>
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Organization: Tektronix Color Printers, Wilsonville, Oregon
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