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Diverting payroll taxes towards privatization without drastically cutting benefits to current retirees will only increase the gap between tax income and entitlements that the Trust Fund will eventually be called upon to cover. Simply put, our generation will not only lose the benefits of Social Security but will be forced to pay the cost of implementing a worse plan. As workers begin to divert their payroll taxes into private accounts, there will be substantially less government money available to fund pensions. This shortfall means that privatization will cost several trillion dollars to implement, in addition to whatever deficit Social Security...
...second major problem arising from the fact that workers do not own the money they pay in payroll taxes is that their heirs cannot inherit their accumulated retirement savings. Upon the death of the worker, no matter how much or how little the worker has paid in taxes or collected in benefits, the money he or she paid into Social Security disappears. None is passed on to his or her children or grandchildren...
...divine creation intrinsically inclined toward God and thus subject to divine laws best enunciated through the church. In his view, that dignity, which commenced at conception, was mortally affronted by contraception, abortion, euthanasia and the death penalty and wounded by war, anti-Semitism and the crushing debt repayments imposed upon poor nations. The pursuit of individual freedoms, untempered by moral teaching, meanwhile, would eventually lead to a "culture of death" corrosive to respect for family, for church and, eventually, for life. The West, he warned, was in the grip of that culture...
PAUL WOLFOWITZ, a former Deputy Defense Secretary and a chief architect of the Iraq war, upon his confirmation as president of the World Bank, stressing his intention to be more collaborative
Last February, a woman walking her dog in the woods of North Vancouver stumbled upon a grotesque find: the mutilated carcasses of 26 bald eagles. The discovery set in motion a major investigation involving law enforcement and conservation officials in both Canada and the U.S. Now, TIME has learned, authorities have identified suspects in a poaching and smuggling ring that they say annually slaughters more than 500 of the protected animals on British Columbia's southwestern coast alone, with perhaps hundreds more killed each year elsewhere in the province. Officials are expected to make a formal announcement of their progress...