Social Security would work if it was on simple basics. I put in 6.2% my employer puts in 6.2% and when you retire you get a lump sum tax free of whatever was put away over the course of your lifetime of work.
That’s it and what you do with it is up to you.
“Social Security would work if it was on simple basics. I put in 6.2% my employer puts in 6.2% and when you retire you get a lump sum tax free of whatever was put away over the course of your lifetime of work.”
That system works just fine when there is a testicle lock box, but when the “government” is allowed to spend the entire income of the United States, plus 40 percent more, it becomes painfully obvious to even the bottom of the intelligence ladder, that a forty percent cut in that which government gives (right, govt gives, govt doesn’t have anything to give now does it) to retirees in the form of SS, is going to be an absolute must if the budget is ever going to balance. My thought as an SS recipient would be, we need to remind ourselves daily that we are just as much a part of the problem as govt, and until we are willing to accept that fact, we are going to continue to demand that which the government has no right or mandate under the Constitution, to be involved in.
How would you handle inflation in this scheme? Just asking.
And as a soleprop, I “happily” pay both for the SSI slobs.