“Both SS and Medicare will have to be “means tested”, increased eligibility age AND benefits frozen at inflation minus x percent to have any chance of bringing the deficit under control without raising taxes.
And yes, it’s an approach I support. “
OOOOOOOH....you stepped on the third rail here on FR.
I happen to agree with you, but only if we get rid of it altogether and have folks apply for the welfare that it is.
Yes, folks paid in, and the government stole their money.
Unfortunately, with this program, no matter what you do, somebody gets the royal screwing. There are merits to the various arguments, but in the end - we can’t pay and we shouldn’t keep pretending that we can. It’s over now, or it’s over soon. Take your pick.
That's the crux of the issue if you ever believed it to be an annuity.
It never was. It was always a transfer payment from those working today...or debt of future workers...to those retired. There was a push in the 50s and early 6os to force the government to deposit a portion of the FICA taxes in private banks but that went nowhere.
You can't send money to DC and not expect those commies to not spend it. It's just not going to happen.