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The only problem I see here is in the transition.
Since SS is a "pay-as-you-go" system, the current workers are paying for the retirees.
It seems as there would be a major cost with covering SS benefits without any workers paying in. I haven't sat down to figure the numbers, but I imagine that the gov't would have to foot the bill for at least 50 years (probably more since life expactancies have gone up and will continue to go up).
So, we would need to figure out how much SS pays out in benefits per year and multiply it times at least 50 to get a guesstimate of the transition cost.
pan - you do know that Democrats would string you up for this, don't you? Pelosi and Kennedy would personally tie the note and slap the ass of the horse.
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