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Response to Indi Guy (Reply #8)

Tue Oct 2, 2012, 07:30 PM

10. Yes it is

It is fraud to try and deprive seniors of benefits they have paid for for decades. In the case of babyboomers, starting with the 1982-1983 compromise, we overpaid social security and medicare taxes to cover the drain our mass retirement would cause on the system. That overpayment is in the trust fund. In theory, when the babyboomer retirement is finished, the system will revert back to normal in terms of numbers of retirees and the massive strain caused by babyboomers' retirement will ease. To even discuss privatizing the system, and causing the retirees to absorb those transition costs, estimated to be 3 Trillion in 2003 but obviously much more now, by taking reduced benefits is outrageous.

Sam

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