pan6467

Bush's plan I believe is allowing a pecentage to be invested, not all of it. I'm sure there would be fees, and brokerages involved. Plus, the companies are still matching funds.

As for a million dollar T-Bill that has a 70 yr. maturity rate, (given at birth), one does not exist now, but I'm sure a good economist that deals with hypotheticals like this may be able to play around and figure it out.

In my proposal we are paying back ONLY the principle, the amount it would take to invest for 70 yrs. to get a million back.

No, they are not interest free loans, they are the people working and paying off a guaranteed retirement system. Again, it's much the same as going to a bank and buying a cd. you pay $100 and 6mos. later the cd matures and you get $102 back (poor interest rates).

With the T-BIll you and the government would enter into a contract at birth which would say, "I will work and pay the principle and in return you will give me $1 million upon my 70th birthday in 20 installments so that I can retire in comfort." It erases having to pay into SS, or pensions plans (both of which are the same type of contract only NOT AS SECURE).

I'm sure though that if need be, the gov't could add a processing fee.

It's a win-win situation for everyone.

You would get a secured retirement that you paid for.

There would have to be far less government spending on retirees.

And again, companies no longer would have to pay SS or into pensions and therefore can use that money for more jobs and higher pay.

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I just love people who use the excuse "I use/do this because I LOVE the feeling/joy/happiness it brings me" and expect you to be ok with that as you watch them destroy their life blindly following. My response is, "I like to put forks in an eletrical socket, just LOVE that feeling, can't ever get enough of it, so will you let me put this copper fork in that electric socket?"