As part of the deal we slowly phase out SS. The people on it stay on it and the people just about to retire. For people like me (age 50) they should provide a Roth where I can convert my IRAs without penalty and give up my claim on SS. Or provide a better IRA deal in place of SS without mandatory withdrawal, whichever people prefer. There will always be people with no retirement savings who will have to fall back on SS, but we need to incentivize people to save and keep those savings for future generations. The feds basically want everybody to spend now and damn the future.
......................There will always be people with no retirement savings who will have to fall back on SS, but we need to incentivize people to save and keep those savings for future generations. ....................
Yeah, like that’s going to happen.
Social Security has been around for what, 70 years, and the average couple entering retirement has what $30,000 in assets to their name for the next 25 years in retiremant.
Kill Social Security, and then contemplate who is going to have to provide for the growing number of folks that have spent all they have earned during employment, as they enter retirement???
There just ain’t enough money in the country to care for everyone 100% for the next 25 or so years.
Welcome to Communism!