Every time some idiot mentions 'social security' as an example of successful socialism, they need to be slapped. SS is an earned benefit. People pay into that system for decades and expect to be able to receive it. Problem is, Congress has dipped into the SS pot more times than one can count for pork projects while distributing SS funds to those who didn't pay a dime into the system. Its why it needs to be privatized, if its going to have any future.
That was the original intent of SS, but it has become a ponzi scheme. Without new young people paying into the system, SS would collapse.
Yep, thats pretty much what I said. And correcting it requires privatization. Keep the similar 7%+7% employer match but allow people to invest that money into private retirement accounts. A 14% effective retirement saving would be a powerful retirement tool. As it stands now, you lose 14% of your income to SS and have to save another block of your income for retirement savings.
Every time some idiot mentions 'social security' as an example of successful socialism, they need to be slapped. SS is an earned benefit. People pay into that system for decades and expect to be able to receive it. Problem is, Congress has dipped into the SS pot more times than one can count for pork projects while distributing SS funds to those who didn't pay a dime into the system. Its why it needs to be privatized, if its going to have any future.
That was the original intent of SS, but it has become a ponzi scheme. Without new young people paying into the system, SS would collapse.
Yep, thats pretty much what I said. And correcting it requires privatization. Keep the similar 7%+7% employer match but allow people to invest that money into private retirement accounts. A 14% effective retirement saving would be a powerful retirement tool. As it stands now, you lose 14% of your income to SS and have to save another block of your income for retirement savings.