"Means testing just means taking away benefits from folks who have saved their money and giving them to people who shot theirs on boats and cocaine. I can find no moral justification for basically cancelling my account out so you can get full benefits. What's your justification for this?"
Nobody is talking about cancelling accounts. A person of means would get back all they paid in plus interest, but that is it. If this person fell back below the set threshold, they could start receiving payments again.
You need to read up on this problem. Today's seniors get back their money with interest--it's tomorrow's seniors who won't even get their money back, let alone interest. Your solution might have worked 20 years ago, but the system has plenty of money now and no mechanism for saving any surplus.
Just returning our money with interest would be a greater amount of money than just leaving things alone because as it stands now we (tomorrow's retirees) won't even get back our money, let alone interest.
Nobody is talking about cancelling accounts. A person of means would get back all they paid in plus interest, but that is it. If this person fell back below the set threshold, they could start receiving payments again
ROFLMAO I dont expect to get half of what I paid into SS back much less adding interest...the problem is so many people and "survivors" getting benefits that contributed nothing or very little....its a scam and should be abolished...if it is just a taxII it should be presented as such..fiduciary duty to disclose and all that...they do advise you benefits are subject to change...its like anything else the govt controls more messed up than Hogan's goat...the less of our money we give them the less they can waste and mess up...privatize now...