Quote:
Originally Posted by jdulej
Wasn't the original (at least, maybe not now) goal of SS to be a safety net so people with very little, or nothing, would not starve on the streets. It was never meant to be someone's entire retirement plan. Given that, the system seems to be working fine. If you made a million dollars a year, your pay in stopped at $100,000-ish (don't recall the number) and you will get around $50,000/year. You can use that to buy your new Porsche every 3 years. The extra you paid in goes to the good of your fellow Americans, and you should be happy to do it.
It works the other way around, just as it was meant to, for people on the lowest end of the income scale.
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Today, the maximum SS payout at full retirement age, is about $37,000 per year, before taxes. I think the original goal of SS is irrelevant. But, the real goal for most Government programs is to get votes.