From: "Gary Britt" 

He doesn't nor is it true.  That is just one more of the lies being told by
Dems to frighten the weak minded into voting for them.  Naturally Bob seems
to go for it hook line and sinker.  The only benefit cuts required will be
for the very young who get the private investment accounts.  The decrease
in their benefits will be offset by their much LARGER private investment
accounts.  Net cash flow to these youngsters from both their private social
security retirement accounts and social security itself will be HIGHER than
social security alone would be even if one made the unrealistic assumption
that social security would remain solvent unchanged.

If the transition is handled slowly and phased in, then the reforms to
social security regarding benefits, benefit ages, etc. won't be as large as
they will have to be if private retirement accounts are not instituted.
Private accounts and ultimately over a few generations transition to a
totally private system will mean greater retirement benefits for everyone
versus social security.

And money flowing into those private accounts will drive stock prices up,
which will in turn mean more wealth accumulating in 401k plans, so its
another benefit for the youngsters.

Gary

"Mike N."  wrote in message
news:7j4501t93ge058n5v1rf5tgoa9k7a4fj77{at}4ax.com...
> On Thu, 3 Feb 2005 15:17:09 -0500, "Robert Comer"
>  wrote:
>
> >now they want me to accept a 40% benefits cut even though I've paid into
> >SocSec for 30 years...  No way, no how.
>
>    Where does he say that there will be a 40% benefits cut for those in
the
> 40-55 age group?
>

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