I’m not crazy about SS. But even with incentives to save such as tax preferences, matches and the potential of long term growth, too many people won’t save or make investments that are too conservative. So without SS you’d have masses of people without any income to live from once they could no longer work or contribute in the work place.
You are exactly right. That is what would happen. I myself have been known to not handle finances as well as I should. And those people would also be getting sick at an age where sickness is prevalent. We need to make SS and Disability mandatory....only way it will work.
Cause when those people get old and need a place to live and hospitals for their illnesses, we'll be paying for it anyway.