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re: The payroll income cap increases every year. Why is SS going broke?
Posted on 4/3/24 at 2:35 pm to armtackledawg
Posted on 4/3/24 at 2:35 pm to armtackledawg
quote:
"Old-Age, Survivors, and Disability Insurance"
the disability portion is an insurance program
It's "Old-Age, Survivors, and Disability insurance"
quote:
The retirement part is a forced
Originally it was designed as a retirement insurance program. In order for it to get Republican votes, they had to make everyone paying in eligible for benefits. Now that it's broken, they need to remove that requirement that everyone is eligible and just means test. There is no reason that people like Donald Trump, Warren Buffet, Elon Musk, Bill Gates or Jeff Bezos need to be taking Social Security when they retire. NONE.
2
Posted on 4/3/24 at 2:40 pm to WildTchoupitoulas
quote:
In order for it to get Republican votes, they had to make everyone paying in eligible for benefits.
So it's not an insurance after all then, because without what the Republican changes the law would have just been a tax on working people and a handout to deadbeats.
Posted on 4/3/24 at 2:45 pm to WildTchoupitoulas
quote:
Originally it was designed as a retirement insurance program. In order for it to get Republican votes, they had to make everyone paying in eligible for benefits. Now that it's broken, they need to remove that requirement that everyone is eligible and just means test. There is no reason that people like Donald Trump, Warren Buffet, Elon Musk, Bill Gates or Jeff Bezos need to be taking Social Security when they retire. NONE.
For retirement, you aren't insuring anything other than a lack of responsibility for saving for retirement. Not something that is out of a person's control (like true insurance). Using the most extreme examples does not make it a better or more justified idea.
And I know what you really mean by "means test" - anyone who has saved 10% more than me.
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