[jrjr729]

It is a common misconception to hold the position that social security is an additional tax levied on gross income or income before federal and state taxes have been paid. It certainly seems to be the case. But actually what is happening is that the government is forcing you to buy a government sponsored annuity called Social Security. Actually this annuity has both advantages and disadvantages over typical life insurance annuities. You can't make a deal with the government to take a lower monthly check in order to get some rights of survivorship. However, the social Security pay-out is generally better than what you would get from most private annuities. In addition, the monthly pay-out is at least fifteen percent tax free. (For some with lower incomes the pay-out could be fifty percent tax free or entirely tax free.)

As to the viability of Social Security, I believe that most politicians know that the voting block with the greatest participation rates is senior citizens. I think that most politicians, wanting to be re-elected, will shy away from hurting their biggest constituency. Of course I could be wrong.

But to reiterate, one of the biggest problems with understanding Social Security is the fact that we all have gotten so used to calling the regular attachment of our earned income "Social Security taxes" when in reality it is a forced annuity purchase. I know there does not seem to be a big difference but at least you get something back for your purchase. With a tax, you get nothing back.