wrote in message
...
On Thu, 30 Oct 2008 23:21:47 -0700, "Bob Weinberger"
wrote:

Your analogy has two fatal flaws.

Sorry, no.

1. Gates' and Buffet's sources of money come from a different source than
my
bank's funds, while SS and the rest of government get their income
primarily
from one source - the american taxpayer.

Nope. I didn't state where their money came from, so you can't state
that it is a different source, but it doesn't matter anyway, but the
biggie is that you didn't read very closely: your bank has no other
funds. They are your only customers, hence the use of the phrase, "your
only customers." And while "the american taxpayer" is the primary
source of the revenue in the general fund, he is not the primary source
of the SSA's funds - remember that employers pay the same rate in FICA,
etc., plus there is income from the Trust Fund workings, etc. (and that
which is paid by individuals as SE Tax doesn't "tip the scales" for a
variety of reasons).

2. Gates and Buffet didn't sign a contract with my deposters that
obligates
the bank (and in a sense would also obligate Gates and Buffet) to pay some
of the bank's depositers amounts that are mandated by Gates and Buffet
(and
over which I have no real independant control), regardless of whether or
not
I have enough new depositers to cover the mandated payouts.

No, they didn't sign your example contract, but it non sequitur because
you have no other depositors to whom you must or in fact could pay
anything, and you do not have "new depositors" - again, see above
your only customers. And while I think you are alluding to an implied
contract with the current and future recipients of contributory "Social
Security," you might wish to refer to your copy of that contract. Don't
have a copy? Well, shoot, that's OK, it really isn't all that much of a
contract...well, unless you're the, um, party of the first part...

And since it was merely an example, I'll let you in on something - if
you wanna be technically correct, it has one REALLY big fatal flaw - you
don't own a bank with Warren and Bill as its only customers...

HTH,
R

Bob Weinberger

Yes I was wrong. Your anagogy doesn't have just two fatal flaws, it has at
least five that make it a very poor analogy of the SS system. Thank you for
doing such a good job of pointing out the other flaws.

Your analogy is only good for pointing out the bookeeping aspects of the
system. The monies we are talking about are all government funds that all
come primarily from the same source (via different mechanisms and vehicles,
but from basically the same source). I was trying to make a point (that you
obviously missed) in my side note in a previous post - when you become
almost solely focused on the accounting/bookeeping of a project/program such
that that aspect becomes the driver of decisions, actual productive
management and decision making of the program/project suffer greatly.

And BTW speaking of not reading carefully, I wrote "the american taxpayer"
not "individual american taxpayers". Any american entity - individuals,
corporations, sole proprietorships, LLC's, etc.- that pays income or social
security taxes, or other taxes disguised as fees or assessments is an
"american taxpayer".

Bob Weinberger


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