Future

Discussion in 'Economy' started by padisha emperor, Mar 21, 2005.

  1. padisha emperor
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    padisha emperor Senior Member

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    Sorry, I can't really develop this because I' ve not the time, but I heard this mornig on the radio, that an economical institution otr organisation did some previsions, about the future for 4 States : USA, Germany, France and UK.

    They said that in some years, or decades, these countries would maybe lost their status of more solvable might of the world, of more richer countries, for one main reason : the problem of the retreat (the money for the old people, is it the correct word, retreat ?)
    If nothing is reformed, it would be a problematic situation for these countries...
     
  2. 5stringJeff
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    5stringJeff Senior Member

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    I'm assuming that by "the money for the old people" you mean Social Security, which is the government's "retirement program" (for lack of a better term). The short story is that President Bush and the Republicans are trying to reform Social Security, so that we will not face this problem. The Democrats have stuck their heads in the sand, refusing to admit that there's a problem. Not sure if Britian, France, or Germany is doing the same.
     
  3. padisha emperor
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    padisha emperor Senior Member

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    ok, it was "reitrement program", because if it is like in France, the "Social Security" means also all the medical depenses...

    France is trying to reform it, but if only the retirement programm is reformed, maybe why not, but if it is the whole social securiy system...wow ! peiople would be angry, bnecause it gives a lot of protetion and help to the citizens.

    How do the republicans to reform this point ?
     
  4. 5stringJeff
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    5stringJeff Senior Member

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    Our current social security plan is a 6.5% payroll tax out of everyone's paycheck. The government then calculates how many years a person works, and what salary they earned, and figures out a monthly stipend that they are paid after they turn 65 (or 68 - can't remember the age). But all the money sits in the US Treasury.

    Republicans want to allow people to take about 60% of their payroll taxes and put them into a personal savings account. They could then invest this money into a few different funds. The funds use different investments - some funds invest in stocks, others in bonds. This would allow people to take ownership of their retirement funds, if they choose to participate, and increase their earnings.
     
  5. Zhukov
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    Zhukov VIP Member

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    ...in the form of a small scrap of paper that says: "IOU"
     
  6. dmp
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    dmp Senior Member

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    If we start hurting financially, we'd just have to kick some richer country's ass.

    :)
     
  7. padisha emperor
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    padisha emperor Senior Member

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    But for the Funds, I believe that the people have to put money in the funds of the companies wheren they're working, and then, like for ENRON, when there is a scandal and a banqueroute, all the money is lost.
     

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