“It is only right that people who have worked a full career are afforded the dignity of a passable income in old age.”
Typical redistributionist BS.
You are owed only what is earned. Nothing more.
My idea:
1. Stop the intergovernmental IOU’s when applying the Social Security taxes collected through payroll deduction into the General Fund to be used for general spending. Immediately create a Fund for the monies from which they can be used for no other purpose except paying retirees.
2. Either through privatized accounts of better government management investment (like the Thrift Savings Plan already in existence) in certain mutual funds, etc should be allowed and must be accomplish to ensure a certain percentage of return on the investment to increase the fund balance.
3. Immediately increase the retirement age to 77-80 years old.
We also must remember what is done here is totally separate to the other needs of tax reform, spending reform, etc.
Really? Then someone else is obligated to provide them a passable income? It says "people", but it really means "people in America", right? Are we proposing that Americans should have to provide a "passable income" to anyone in the world who has "worked a full career"? I guess we need to define a "full career"? If someone took a year off, or a month? A week, a day, an afternoon? Is it still a "full career"? How about 2 jobs for 1/2 a career? Is that OK?