Posted on 12/31/2004 12:12:19 AM PST by JohnHuang2
The only solution is to:
1. raise the retirment age in recognition of longer life
2. cut benefits over time and in advance
3. establish personal retirement accounts
4. strengthening families (real ones, not queers) so that the young will take care of their own old
Chances of this happening....nil...say hello to bankruptcy.
I, too, have paid lots of income taxes and FICA taxes. I'm in my late forties.
Would it be welfare if I were to I kick back now? I could collect unemployment benefits for a while. Then I could get food stamps, live in Section 8 housing, and get free medical insurance (Medicaid) until I'm 67. Maybe I could even claim that my apographiphobia (fear of taxes) qualifies for a SS disability entitlement.
Seriously, I disagree the the Devvy Kidd's legal analysis because there are well-established judicial decisions that interpret the FICA as it operates in practice. As a practical matter, it futile to revisit FICA as it's actually written; the courts won't pay any more attention to that than they do to the 10th Amendment.
As a practical matter, it makes sense to collect a social security check. That's the way FDR Democrats set up the "system" and it makes no sense for an individual to "buck the system".
But when we debate the "system" established under FICA, we ought to call it what it is ... it is a welfare system.
Which brings to mind just how appalling ignorant most folks are about the system are. FICA claims 12.4% of almost everybody's earned income; it appears as line item on the vast majority of paystubs. But I have seldom met a person who knew what the acronym "FICA" means.
Bump...
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