Well, I'm one of the three to one, not one of the 20 to one, because I'm still working and paying taxes.
But complaining isn't the answer. What do you suggest? Really.
When the SS bill was originated, any street hustler could have told you it was a Ponzi scheme. And I've paid lots of money into it. I don't want to get screwed either.
Personally, I think phased privatization might be a practical approach. Any thoughts?
Phasing is a good idea. I think the ultimate goal would be to shift social security to the point where it is a, well for lack of a better term, forced savings mechanism and make sure its in a lockbox. I.e. if i put say 250k in over my lifetime, when i retire that 250k is sitting in a bank account for me and me alone. If i save 500k, 500k is waiting for me.
This way people who won't normally save will have something waiting for them when they retire, and should they die, they can pass their benefits onto their children.
Clearly it needs to be phased in.
Medicare is the other problem. First off we need to get rid of that boondoggle drug entitlement. Second we need to progressively index it, i don't like the idea, but it's the only really feasable way. I.e. , we don't need to be picking up bill gates tab, but at the same time the ones who are genuinely poor i guess we have no choice. Also make people pay premiums that are high deductible based. By forcing a higher deductible, it prevents these seniors from wandering to the doctors office everyday, and makes them only go when they genuinely need it.
Studies have shown that a higher deductible plan can help drive down the cost of medicine because since the consumer is paying directly for medical care, he will look around for the best deal. Market place takes care of the rest.