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Uncle Irving On Social Security

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Uncle Irving frequently contacts me concerning his proposed solutions to society´┐Żs problems. Recently he agreed to let me share them with my readership.

The current national discussion concerning the overhaul of the Social Security System has led Irving to do quite a bit of research and contemplation. Below he lays out his understanding of the problem and his proposed solution.

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Thank you, Bob

THE PROBLEM:
Humans in the USA expect that the Social Security System will provide adequate funds when they reach retirement age to guaranty them a minimum subsistence lifestyle. The fund that administers this system is due to start running in the red in 30 - 45 years. Unless something is done now to correct this financial imbalance, the system will go belly up.

One plan calls for switching some of the money people put aside via payroll taxes into stock investments. In order to change over to this plan, $2,000,000,000 (two trillion dollars) would have to be borrowed. This and all currently proposed solutions involve staggering amount of money.

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