“...individuals who opted to receive the loan would have the balance carried forward at a “specified and favorable government interest rate until the time they choose to claim Social Security...”
I earned a grand total of $10 interest last month on a fair amount of cash in the bank. In other words, interest rates for the Little People are nil — but I’m guessing the interest rate the government imposes on this $5,000 will be far greater.
I like the idea that at least the takers will be on the hook to pay it back but I’ll pass.
How would you have done with that cash in the stock market last month?
AND you will pay taxes on that $10 interest income !!!