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| | Defaulting on the Social Security Trust Fund Bonds: Winners and Losers, by Dean Baker, CEPR, July 2001 (Site not responding. Last check: 2007-10-29) |
 | | In fact, one of the first acts of the new government, after the constitution was ratified, was to repay in full the debts incurred by the states during the Revolutionary War. |
 | | It also allocates the additional Social Security taxes, which would be needed to make up for the bonds, to determine which groups are net gainers and losers under this proposal. |
 | | Table 1 shows the total gains from the default by income quintile as well as the gains for the top 10 percent, 5 percent, and 1 percent of households. |
| cepr.net /publications/social_security_2001_07_23.htm (2835 words) |
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