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Bill: Social Security Modernization & Reform Act
Details
Submitted by[?]: Capitalist Working Families
Status[?]: defeated
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: April 2442
Description[?]:
In approximately 20-30 years, the entire Social Security system in the Commonwealth of Rutania is going to go BANKRUPT!!! This is b/c of the way the Social Security Trust Fund as been grossly mismanaged. In other words, for the past 35 years politicians from ALL parties---[Yes, our's is included]---have raided the Trust Fund guaranteed for elderly Rutanians under the guise of "[permanently] borrow n' spend." As a result, in order to satisfy their requirements, payroll taxes from their children's workforce (aka "Babyboom generation") was used to finance their benefits. However, unfortunately, the "Babyboom Generation" did not procure enough children to exceed them in number and when they retire there is not going to be ENOUGH workers in the system to sustain them. Thus, at their retirement the fence to the Social Security Office is going to SHUT DOWN and the entire system will be BANKRUPT!!!! As of know, there are only THREE (3) possible solutions that could enable the system to sustain itself for future generations of workers: (a) Drastically CUT BENEFITS for the future Retirees' to save costs; however, this both unethical and immoral. (b) RAISE (Payroll) TAXES on the working poor to yield a "surplus." However, this is the WORST case scenario b/c raising taxes will jeopordize our economy. (c) Get GROWTH of the Social Security Trust Fund; Obviously, GROWTH is the most feasible of the solution(s) so therefore this legislation attempts to reform and MODERNIZE the Social Security System to SAVE it for future generations: (1) While avoiding INDIVIDUAL "privatization schemes" in the Stock market etc., it simply asserts that the Federal Government of Rutania will invest the ENTIRE Trust Fund into a growth-sustaining investment vehicle like that of a high-interest paying Hedge Fund. (2) We believe that this is the way to go b/c Hedge Funds are specialized "Mutual Funds" that "bet" on the Stock Market when it goes "up" AND "down" thus minimizing risk and maximizing return. However, the problem with this is that it takes nearly "1 million RUT" to enroll in the Fund thus excluding the poor and middle class. (3) However, the Social Security Trust Fund is a COLLECTIVE vehicle in billions and can accomodate this. Thank you for your full suppor. |
Proposals
Article 1
Proposal[?] to change The government's policy concerning the pension system.
Old value:: The state operates a compulsory public system combined with an optional private pension.
Current: The state operates a compulsory public system combined with an optional private pension.
Proposed: There is a compulsory private pension system.
Debate
These messages have been posted to debate on this bill:
| Date | 18:51:03, August 12, 2007 CET | From | Militaristic Party | To | Debating the Social Security Modernization & Reform Act |
| Message | A brilliant idea, leaves the cost of government lower for more important things and guarantees such a benefit for all people. |
| Date | 19:37:47, August 12, 2007 CET | From | Vox Popularis Imperator | To | Debating the Social Security Modernization & Reform Act |
| Message | A disgusting idea, that does not improve the People's condition. |
| Date | 20:32:55, August 12, 2007 CET | From | Neo-Epicurean Party | To | Debating the Social Security Modernization & Reform Act |
| Message | We actually like the current "libertarian welfare state" and think that it should remain in place. |
| Date | 22:55:46, August 12, 2007 CET | From | Deus Ex Machina Party | To | Debating the Social Security Modernization & Reform Act |
| Message | We have no idea how Delta Force's plan fits in with this proposal, the logistics, the benefits, etc.. This really doesn't make any sense. The government is mandating that the people give a percentage of their money to private firms. What? |
| Date | 09:59:11, August 13, 2007 CET | From | Capitalist Working Families | To | Debating the Social Security Modernization & Reform Act |
| Message | NO, NO, NO!!!! We are not mandating that the people give a percentage of their money to private firms. Rather, we are saying that the Government invests the EXISTING Social Security Trust Fund (which the game calls a "Pension") into a diversified Mutual Fund or Hedge to maximize return while minimizing risk. This will BENEFIT the people as it will SAVE the system from financial collapse when the retirees OUTNUMBER the workers. |
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Voting
| Vote | Seats | ||||||
| yes |
Total Seats: 259 | ||||||
| no |
Total Seats: 426 | ||||||
| abstain | Total Seats: 65 |
| Random fact: Whilst the use of non-English languages can be appropriate for nation names, party names, constitutional titles and other variables, English is the official language of communication in the game. All descriptive texts and public communications should be in English or at least appear alongside a full English translation. |
| Random quote: "Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting that vote." - Unknown |