RE: RE: Atlas Shrugged: Ayn Rynd

In a previous life, I used to design Annuity products for life insurance
companies.  If I had designed a product exactly like the Social Security
system, I would have been jailed by any state in the union for "consumer
fraud".   Social Security is nothing short of a federalized Ponzi scheme and
like all Ponzi schemes, will eventually fail under the load of it's own
weight.  Even the most optimistic of politicians and actuaries you ever hear
talking on the subject, only speak of "extending SS's solvency until the
year (pick your choice)".  Sooner or later, the party ends.....  

> -----Original Message-----
> From: DeLong, Eric [SMTP:EDeLong@Sallybeauty.com]
> Sent: Thursday, August 02, 2001 9:14 AM
> To:   'MIDRANGE-L@midrange.com'
> Subject:      RE: RE: Atlas Shrugged: Ayn Rynd
> 
> I agree... I don't expect I'll ever see a dime, even though I've been
> paying
> into it for the last 18 years or so. It really burns me that I *MUST* pay
> for somebody else's benefit. Let me direct that money into an IRA, I'd at
> least know what to expect. It wouldn't be so bad if I knew the money was
> not
> being wasted, but I expect "leaky bucket" pretty well describes that fund.
> 
> > -----Original Message-----
> > From: Erik Mitsch [mailto:baron@baron-inc.net]
> > Sent: Tuesday, July 31, 2001 9:13 PM
> > To: MIDRANGE-L@midrange.com
> > Subject: Re: RE: Atlas Shrugged: Ayn Rynd
> > 
> > 
> > 
> > > If I could I would opt out of social security today and forfeit 
> > > every penny
> > > I have contributed to the system over the past 29 years.  Where 
> > > else can you
> > > earn a guaranteed negative rate of return on your investment?
> > 
> > Hey, at least most of you guys will actually GET Social Security - as 
> > the system stands, the whole thing will be long out of money by the 
> > time I get around to collecting...
> > 
> > - Erik
> > http://www.baron-inc.net
> > 
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