Quote:
Originally posted by Jet,
Well, that's utter crap. First, consider the fact that the boomers will start dying en masse in the 20s. Second, the fact you quoted is simply wrong; the most pessimstic view of SS places the bankruptcy date close to where you say it is (in 2037, IIRC), but the expected year, given that 4529056.5 variables that are largely unknown stay the same, is closer to the 2070s.
Anyway, there are some things I don't see what the point in them is in SS, which is why I pretty much oppose it:
- Why the hell does the government need two different budgets, when having one is more efficient, more flexible, better for the debt (as the period in which SS is in surplus comes before the period in which it'll be in deficit), and based on a more sensible tax?
- Why the hell does the government need to distribute social security to people who can live on their own? It's like giving welfare to the middle-class.
So, I say, scuttle it, and replace it with need-based aid, like with welfare. If you're 30 and concerned about things now, invest in a savings program, and the government will even ensure it for you in case the bank goes bankrupt. |
What makes you think that people born around 1950 will only live 70 years or so? With the state of medical technology at the present time living to be 80, 90 even 100 years old is not out of reach. With medical technology only getting better people are going to be living longer and longer. It's just not realistic to believe that people are just going to keel over and die to keep this system on track. SSC is a pyramid scheme, it will only work when a much greater percentage of people are working than retiring. The retirees will be tipping that scale much sooner that you expect.
Why the hell does the government need to distribute social security to people who can live on their own?
Because it's MY money!! I paid into it. I want it back. Why exactly do you think anyone else has a right to my hard earned money? And who do you think is for SSC who doesn't think they'll be getting something out of it?
And while your at it explain exactly what will motivate a person to invest in a savings account for their retirement if it means that they don't get any of the money they were forced to pay into social security?