It was designed to hold families together and to give stability in uncertain times. It was designed to buy votes for Democrats. When it was instituted, most people didn't even live to age 65. It was a nasty Ponzi scheme from the beginning. If it had really been an individual retirement account, *as it was sold to the American electorate*, it would be far different than it is today.
Actually, Soshsecurity was a program started for the purpose of making up for income lost due to retirement, death, or disability. Like most government programs, it became an entitlement. If we just stopped paying soshsecurity, it would just expand the welfare rolls. I worked at a local SSA district office from 1979 to 1988. Even back then, before 401(k)s and IRAs were big, before regular guys invested in anything but savings accounts, approximately 75% of the old people I signed up for their benefits said the same thing to me upon learning of the amount of their monthly benefits: "If I had been allowed to invest that money, I would have a million dollars by now." I was very young and would just roll my eyes but now that I am in my 40s, I understand that those people were correct. What I can't figure out is where did they all go. If you want something to cry about, go to:
http://www.heritage.org/research/features/socialsecurity/welcome.asp
put in your information and see how much you *could* have had if we hadn't been paying into a slush fund for Teddy, Dicky, Chucky, Hilly and their ilk lo these many years.
For AARP to try to block this is unconscionable. Their position makes it VERY CLEAR that they have no concern whatsoever for the generations behind them, including their own children and grandchildren.
Show of hands... Who thinks those of us in our 30s, 40s and 50s will enjoy the same big-car driving, two-home traveling, eating out every night, 30-years of kicking back retirement like the ones "entitled" to soshsecurity now?