Quote:
Originally Posted by Stu from NYC
Social Security is not meant to be a way of transferring money from rich to others but a pension system so you more or less get back what you put into it.
To me the best way to fix this is to increase the retirement age on a gradual basis to somewhere in the early 70's and keep increasing the age as our lifespans increase.
When they started this shell game and payments started at 65 they kind of forgot to remind people that the vast majority would not live that long so they amassed a large nest egg that the govt decided to borrow with so far no intention to repay.
And remarkably we keep voting in the same people who have mismanaged our economy for years and years.
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A suggested recent read.....
High Income Inequality Hurts Social Security's Finances
"Yet, income inequality adversely affects Social Security’s finances at time when American families need Social Security benefits more. Income inequality rose starting in the 1980s and remained persistently high in recent decades. Income growth at the bottom and in the middle of the income distribution have slowed, but accelerated at the top and grown faster at the top."