首页
登录
职称英语
The National Association of Securities Dealers is investigating whether som
The National Association of Securities Dealers is investigating whether som
游客
2023-09-02
32
管理
问题
The National Association of Securities Dealers is investigating whether some brokerage houses are inappropriately pushing individuals to borrow large sums on their houses to invest in the stock market. Can we persuade the association to investigate would-be privatizers of Social Security? For it is now apparent that the Bush administration’s privatization proposal will amount to the same thing, borrow trillions, put the money in the stock market and hope.
Privatization would begin by diverting payroll taxes, which pay for current Social Security benefits, into personal investment accounts. The government would have to borrow to make up the shortfall. This would sharply increase the government’s debt. "Never mind," privatization advocates say, "in the long run, people would make so much on personal accounts that the government could save money by cutting retirees’ benefits."
Even so, if personal investment accounts were invested in Treasury bonds, this whole process would accomplish precisely nothing. The interest workers would receive on their accounts would exactly match the interest the government would have to pay on its additional debt. To compensate for the initial borrowing, the government would have to cut future benefits so much that workers would gain nothing at all. However, privatizers claim that these investments would make a lot of money and that, in effect, the government, not the workers, would reap most of those gains, because as personal accounts grew, the government could cut benefits.
We can argue at length about whether the high stock returns such schemes assume are realistic (they aren’t), but let’s cut to the chase: in essence, such schemes involve having the government borrow heavily and put the money in the stock market. That’s because the government would, in effect, confiscate workers’ gains in their personal accounts by cutting those workers’ benefits.
Once you realize what privatization really means, it doesn’t sound too responsible, does it? But the details make it considerably worse. First, financial markets would, correctly, treat the reality of huge deficits today as a much more important indicator of the government’s fiscal health than the mere promise that government could save money by cutting benefits in the distant future. After all, a government bond is a legally binding promise to pay, while a benefits formula that supposedly cuts costs 40 years from now is nothing more than a suggestion to future Congresses. If a privatization plan passed in 2005 called for steep benefit cuts in 2045, what are the odds that those cuts would really happen? Second, a system of personal accounts would pay huge brokerage fees. Of course, from Wall Street’s point of view that’s a benefit, not a cost. [br] It can be inferred from the passage that Social Security privatization will______.
选项
A、provide high returns for the new governments
B、be strongly opposed by Wall Street
C、bring the future retirees more benefits
D、allow individuals to invest in personal accounts
答案
D
解析
细节推断题。由第二段第一句可知,私有化方案是将工人支付社会福利金的工资税转移到个人投资账户,因此D正确。
转载请注明原文地址:https://tihaiku.com/zcyy/2980394.html
相关试题推荐
Oneofthegreatestconcernsparentshavewhenfacinganinternationalmove
Oneofthegreatestconcernsparentshavewhenfacinganinternationalmove
Oneofthegreatestconcernsparentshavewhenfacinganinternationalmove
Oneofthegreatestconcernsparentshavewhenfacinganinternationalmove
Oneofthegreatestconcernsparentshavewhenfacinganinternationalmove
Oneofthegreatestconcernsparentshavewhenfacinganinternationalmove
Oneofthegreatestconcernsparentshavewhenfacinganinternationalmove
Oneofthegreatestconcernsparentshavewhenfacinganinternationalmove
Oneofthegreatestconcernsparentshavewhenfacinganinternationalmove
Oneofthegreatestconcernsparentshavewhenfacinganinternationalmove
随机试题
[originaltext]YahooInc.,theworld’slargestInternermediacompany,andM
SinceWorldWarII,therehasbeenaclearlydiscernibletrend,especially
()指的是把一组输入作业或一批数据以成批处理的方式一次运行,按顺序逐个得理
假设从两个正态总体抽取两个独立的随机样本,则两个样本方差比的抽样分布为()。A
请填入表格内①-⑤内容。
根据《刑法》第一百八十二条的规定,有下列情形之一(),操纵证券、期货市场,影
基坑开挖过程中,一旦出现渗水或漏水,应及时采取的措施是( )。 A、坑底加固
某国有企业因不能清偿到期债务而决定申请破产重整,对企业实施拯救。其拯救措施之一是
既能治疗温病气分高热、肺热咳喘,又能治疗疮疡不敛、外伤出血的药物是A.黄柏 B
设随机变量(X,Y)服从二维正态分布,其概率密度为f(x,y)=1/2π
最新回复
(
0
)