2 thoughts on “Social Security Recipients Facing Automatic Cuts In Not-Too-Distant Future”
Social security is a legal Ponzi scheme. Most workers would be better off if Social Security didn’t exist and they had saved the money they paid in payroll taxes in accounts that they owned and controlled instead.
Yes, somethings got to change . The current system is unsustainable.
It’s time to confront the painful but necessary truth that no matter what story politicians told, Social Security has always been an income transfer program, not a savings system. Today’s Social Security is increasingly burdening future generations with the threats of higher taxes and inflation. A more effective approach would design Social Security as a safety net to prevent senior poverty while empowering workers to have greater control over their retirement security.
Fred, it is really unfortunate what is going to happen. I think many folks will be taken by surprise.
I agree– it’s unsustainable.
You probably remember that George W. Bush floated a reform plan that would enable folks to have their contributions invested; but there was a bit of fussing politically and the proposal died quickly. That would have been a game changer.
Social security is a legal Ponzi scheme. Most workers would be better off if Social Security didn’t exist and they had saved the money they paid in payroll taxes in accounts that they owned and controlled instead.
Yes, somethings got to change . The current system is unsustainable.
It’s time to confront the painful but necessary truth that no matter what story politicians told, Social Security has always been an income transfer program, not a savings system. Today’s Social Security is increasingly burdening future generations with the threats of higher taxes and inflation. A more effective approach would design Social Security as a safety net to prevent senior poverty while empowering workers to have greater control over their retirement security.
Fred, it is really unfortunate what is going to happen. I think many folks will be taken by surprise.
I agree– it’s unsustainable.
You probably remember that George W. Bush floated a reform plan that would enable folks to have their contributions invested; but there was a bit of fussing politically and the proposal died quickly. That would have been a game changer.