What you have always heard is wrong. Social Security has always been a pay as you go program. It is an intergenerational transfer, a welfare program camouflaged as “social insurance.” As a retirement plan, it has a lousy ROI. It is a money losing proposition for many. And any additional tax increases to keep the Ponzi scheme alive will only make those problems worse. Some future generation will cut bait. The Democrats default option will be to means test benefits while applying the Social Security tax to all income.
Ok. If I’m wrong, I’m wrong. However, I’ll go back to my original statement/question.
Who is getting it and why? It isn’t just Social Security. It’s all the ‘entitlement programs’. Section 8, TANF, SNAP, WIC, etc etc.
Right now we have millions of kids, born to illegal parents, in American hospitals and everyone one of them is getting benefits. We have refugees by the millions that get EVERYTHING and they’re never leaving. And they all get to bring their families over, who then go on some type of assistance. Not a single one of them has EVER paid into the system, whether it’s a PONZI scheme or not.
Take care of those problems and then we can talk about the rest.