Should Social security Medicare be optional?

I wish I could say yes make it optional in an ideal environment, but the average citizen has something like $10,000 in retirement savings. So no, I don't think it should be optional. While I understand none of what we currently put in is "saved" for us, at least we are contributing to the issue.

Retirement accounts should not be allowed to be accessed until someone is 65 IMO. Its absurd to allow loans on the money and early withdraws.

They would put restrictions on it. they pay you until you retire.

Here's the real problem.

People over time have paid taxes for social security and have been "promised" benefits. However, not nearly enough was collected. SS is a ponzi scheme. The taxes collected from today's workers pay the benefits for today's retirees.

If we were to allow people to opt out of contributions, the system would quickly crash. Without new dollars constantly coming in, there would be nothing to pay benefits right.

And to be fair, many defined benefit pension plans are in the same boat. If contributions were halted today, there would not be enough money to pay out all benefits that are owed.

Medicare is the same way. The people receiving medicare today, to the extent they are paying premiums, they are not nearly enough to cover today's expenses. But the medicare taxes paid by everyone (the vast majority of whom are NOT receiving benefits today) pay for the system. Again, if we allowed people to opt out, we would not have enough money coming in to pay today's benefits.

In theory, I'm in favor of alternatives to both. But I don't think we can tell people, hey, you paid in social security and medicare all your life, now that you need it, sorry.

The transition to a new plan is going to be very, very painful. Needed and better in the long run, but short term painful.