When you take money from the citizens’ paychecks and tell them it will be repaid it has to be. Otherwise the government is in default of an agreement that it made with its citizens and deserves to be removed.
I agree that it is a Ponzi scheme but the taxpayers who had their earnings confiscated have every right to ask for their money back.
Oh no they don’t.
There was a Supreme Court case a few years back in which it was determined that the government is NOT legally liable for the money it promised us.
Unfortunately, I agree, to an extent of course...
I break it down into four groups. Those that need SS due to real (provable, verifiable, tested regularly,)disability. My opinion is that this is what SS should be.
Second, those who are currently retired and relying on SS. Simple fact is, someone promised them someone elses money and they depended on that promise. Shame on both of them, but not much that can really be done here absent starving the elderly - and that's something I will voluntarily pay to avoid absent any promised return to me.
Third, those who are heading into retirement but didn't plan for their own future. This may include people who believed that the promised gravy train would be there for them, those who want to retire at 65 but kept pumping moeny into high risk investments even though they were about to retire and should have protected their assets, and those who levereaged their house for toys instead of getting out of debt so they could enjoy their retirement. Obviously there will be some responisble people who got caught in the crossfire, but unfortunately this group is going to have to face reality in the near future.
Their benifits need to be reduced. This may include proportioned reduction in benefits depending on age, significantly increased retirement age, etc. Absent that this program will bankrupt our nation. Maybe not popular but true.
Fourth, the group that is yet to come. We don't expect SS to be there when we retire because we understand a Ponzi scheme when we see one. Yet, we want to help the most in need. We are also willing to fork over our cash to help smoothly transition out of this mess even though we won't get a dime in return. Our priority is making sure our kids aren't bankrupted by our fathers and forefathers mistakes.
Then again, if we can't get a compromise on this issue - many of us are willing to zap the whole freaking program as soon as we are in charge and let all of the proceeding groups rely on private charity so that are kids aren't bound into indentured servitude.
That's just my opion however...