Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/5/84; site unmvax.UUCP Path: utzoo!watmath!clyde!burl!ulysses!mhuxr!ihnp4!zehntel!tektronix!hplabs!hao!seismo!cmcl2!lanl!unmvax!cliff From: cliff@unmvax.UUCP Newsgroups: net.flame,net.politics Subject: Re: Re: Social Security Message-ID: <574@unmvax.UUCP> Date: Tue, 8-Jan-85 15:04:28 EST Article-I.D.: unmvax.574 Posted: Tue Jan 8 15:04:28 1985 Date-Received: Sat, 12-Jan-85 01:43:27 EST References: <222@cmu-cs-cad.ARPA> <580003@acf4.UUCP> Organization: Univ. of New Mexico, Albuquerque Lines: 22 Xref: watmath net.flame:7585 net.politics:6745 > It (replacing Social Security with IRA's or their ilk) sounds good BUT: > > what of the guy who waits till he's 59.5, takes all the money out of > his IRA account, and losses it it (spends it/ gambles it, etc.). > > Now he's old, and broke. Does society support him, or let him starve?? Do you mean society or government? Government should not support him. Let society do what it sees fit. If people want to be sure they won't screw up, I am sure there are banking institutions that would allow people to specify in their contract that they may only take a predetermined amount of money out per period (weekly/monthly/quarterly, you name it). Let's move this discussion to net.politics. > ------------------------------------------------------ > Ross M. Greenberg @ NYU ----> { allegra,ihnp4 }!cmcl2!acf4!greenber <---- --Cliff [Matthews] {purdue, cmcl2, ihnp4}!lanl!unmvax!cliff {csu-cs, pur-ee, convex, gatech, ucbvax}!unmvax!cliff 4744 Trumbull S.E. - Albuquerque NM 87108 - (505) 265-9143