Any state that wants to do this is going to run into a few problems, a major one being people who rely on their SS for income.
Assuming that SS payments would just stop, and that residents would no longer have federal taxes withheld from their paychecks, an idea to fix this is to sanction legitimate charities with the ability for donors to set up withholding for whatever amount the donor wishes to donate.
I don’t know about you, but if they stopped taking close to half my pay, I’d be willing to donate a good bit to help folks in the state who needed assistance.
This way, help would go to people who really needed it, and nobody would be forced by the state to participate.
Just a thought...it would cut down on propaganda sob stories anyway.
Any state that wants to do this is going to run into a few problems, a major one being people who rely on their SS for income. Assuming that SS payments would just stop, and that residents would no longer have federal taxes withheld from their paychecks, an idea to fix this is to sanction legitimate charities with the ability for donors to set up withholding for whatever amount the donor wishes to donate.
Showing what a lie and a joke SSI are. Logically the government has been telling me that is MY retirement fund, based on my (and my employers) contributions. So what if Wyoming opts out. The Social Security Administration / Trust Fund still has (IMHO) a moral duty to pay back individuals who have paid in what they are owed. If they didn't, a lot of retirees would move to a state still participating in the system, or at least rent post office boxes in Denver.
“Any state that wants to do this is going to run into a few problems, a major one being people who rely on their SS for income.”
I’ve done some thinking on this and believe that we should still have a backstop. However, it would be much more difficult to get on the equivalent of Social Security. For example, if you went to the government for money, they would first go to your kids and see if they can get the money from them. If not, then other options might be explored. Finally, the state could step if no one else is available. But it would be welfare.
In the end, most people would take care of their parents, so the parents don’t have to go begging. That’s the way it worked for the first 4900 years of recorded history.
SS recipients could simply receive their checks from the newly formed government. Collection would continue until it was phased out for a privatized system. Since management of the “fund” would be greatly localized you wouldn’t be paying for all the seniors in Florida, etc.
You wouldn’t want to create beggars out of people who legitimately need the help (ie payed their share and now depend on the payments).
THERE IS NO MONEY IN Social Security!!!
It is a giant Ponzi Scheme.
Take away the taxation by DC and we will have tremendous decreases in taxation.