Quote:
Originally Posted by Arlington2
This has been the doom and gloom scare tactic since at least the 60's. I even bought into it and prepared to be financially independent. They will continue to kick the can down the road. Logical solutions are raising the income limit and raising the retirement age. It has lost the original intent of being a safety net and has become an expected retirement plan.
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It was designed to be an expected retirement plan. That's why it existed in the first place; because companies didn't provide retirement plans/pensions to sustain employees in their retirement, so the government stepped in and set a small percentage of employee paychecks aside and invested it on their behalf. That was the whole point.
Read here:
Access Denied
for a pretty detailed history of America's pension/retirement options for the poor and working class people, leading up to the creation of the Social Security Act. Around halfway down you'll see the actual formation details of the Act itself, if you don't want to read all the stuff leading up to it.