I agree the idea is good.
However, I despise SS because,
1. It’s a Ponzi scheme.
2. Congresscritters have stolen from it in order to finance whatever “keep-’em-in-office” scheme is popular for that term.
3. It’s a Ponzi scheme.
4. The “lock box” ain’t got nuttin’ in it.
and finally,
5. IT’S A PONZI SCHEME.
You can add: It is intergenerational theft on a massive scale and completely unconstitutional.
SS and other federal entitlement programs are entirely evil and are destroying America. Other than that, what’s not to like?
SS was not originally a ponzi scheme- it transformed into one from something almost just as bad.
When SS was first invented, the age to take money out was the same as now- 65, but the average life expectancy was 57 for men and 64 for women (I may be off a couple years, but I am close)
IT WAS A MONEY GRAB- nobody was expected to live long enough to receive it.
Now, people live into their 70’s and they actually have to pay out more than they take in- THAT IS WHY IT IS GOING BANKRUPT.
And they do not take 6% they take 15% (7.5% from you and your employer, but your employer does not “match” yours- he just does not give half to you first, before he gives it to the government)
Most people who are receiving SS now are getting on average many many times what they ‘paid into’ it over the last 40 years
It is NOT put into a lockbox- they SPENT IT each year, and then pay people from current tax receipts. (If your company did this with your retirement plan they would be jailed immediately)
The overhead is way more than 1%- the government is NEVER repeat NEVER repeat again NEVER EVER 99% efficient.
Welfare is only 27% efficient- I dont remember the numbers for SS but I will bet you a gazillion bucks it is NOT 99%
There is so much else wrong with TruConservative’s commentary that he should be ejected from FR on general principles...