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re: The payroll income cap increases every year. Why is SS going broke?
Posted on 4/3/24 at 2:45 pm to WildTchoupitoulas
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.
1
Posted on 4/3/24 at 3:00 pm to armtackledawg
quote:
saving for retirement.
People lose their savings all the time.
quote:
Not something that is out of a person's control
So, you control the stock market, do you?
quote:
Using the most extreme examples does not make it a better or more justified idea.
Being totally ignorant of history is not a valid argument.
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