Ping list for the discussion of the politics and social aspects that directly effects Gen-Reagan/Generation-X (Those born from 1965-1981) including all the spending previous generations (i.e. The Baby Boomers) are doing that Gen-X and Y will end up paying for.
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Aaargh! The only "fix" Social Security needs is a quick death.
I think Republicans and Democrats will continue to milk the taxpayers for SS and Medicare as long as they can. What happens afterward? There is little evidence they care.
Fix them? How about we KILL both programs and allow private enterprise to provide solutions?
Fat chance. The big overgrown bloated government won't allow it.
This statement assumes that social security and medicare are necessities, let alone Constitutionally permissible. These two gargantuan programs have become "necessities" because the nanny state has conditioned people to rely on government goodies.
While I know that I need to save for my own retirement. I really do not believe that SS will be there when it comes my turn (I'm 29). So I wish I did not have to pay for it.
It works like this: All money paid into the SS would be refunded back to the worker via a lump-sum payment. The worker must put this money into a Private Retirement & Medical Account (PeRMA) and a minimum of 10% of their annual earnings into said account.
Those 51 and older will be given the option to opt out of SS and Medicare and the money they put in will be refunded back to them, or they can remain on SS and Medicare, in which the systems will phase itself out over a number of years.
The PeRMAs would be overseen by a non-profit board that meets quarterly to discuss the rates. Private health or financial companies would be free to enter tihs new market and issue plans. The SS numbers that everyone receives now would be used for these new accounts.