Yep, welcome to “means testing”!
“Yep, welcome to “means testing”!”
The thing is the government lied. It sold Social Security as a savings account. Any semblance of it being a separate account vanished when LBJ he took the fund into the Unified Budget. The stuff that was part of SS like the Medicare plan came along with the sales pitch that most of it would be paid for from our “retirement savings” account.
They would have been better off if they’d simply explained that the young people were paying for the old people out of their current taxes. Then it would be easier to sell means testing. But as it is now, everyone who paid into SS were told it was their savings account and not the taxes being paid right this minute by young people who are having their own problems making ends meet.
Oh, and there are WAY fewer young people projected to be born to pay taxes from now and into the foreseeable future. That was one reason they gave in the seventies for bringing in foreigners. It’s just that they brought in foreigners who will probably never pay into the system to match what it costs to have them. The government is just one lie after another.