Abolish Social Security

[GregW]

Any and all problems with the current system could be cured by applying the tax to all income from all sources and setting the rate to cover current expenditures. This would be a flat rate with none of the money used, by buying government bonds, to fund other government expenses. This would be a flat tax unlike my proposed income taxes which would again tax all income from all sources at a progressive rate, partially achieved by setting the base deduction at the mean income, and be set to cover current operating expenses and pay interest on bonds used to fund capital investments.

[bigskydude]

Originally Posted by fashionablecowboy

I am looking at my paycheck right now, and the tax rate for social security is seriously depressing. I can't believe how much money is taken out.

Is social security worth this much? I doubt that anyone has ever felt good when they saw how much money was taken from their paycheck for this.. It's a defunct sytem that will have to be abolished soon. It doesn't pay for itself. It's too costly. It's too big daddy. Defunct, ABOLISH IT.

It wouldn't be so bad if the Fed would quit double dipping the fund, and lazy 20 somethings quit pretending they've got a disability in order to get free money from the Fed.