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As it stands, Social Security withholdings are dumped into the United States general fund and are wasted.
So, that is the basic solution. Abolish Social Security and add the Social Security Individual Investment Program. Your entire withholding gets invested for your own benefit. Same as now, you can't touch it. It accumulates and is invested. You end up with a fortune, even if you are a fairly useless robot who never gets past Walmart or McDonalds.
that is false , social security is never dumped in to the general funds . they can't be by law .
they can only go to fund ss retirement ,ss disability or survivor benefits . anything extra can only buy special interest paying treasury bonds which never defaulted .
just like when your mutual funds , pension funds or you buy bonds , the borrower is free to use that money however they like .
for the record ss disability went broke from all the claims since it bacame the new unemployment insurance and so many are on it . they had to move billions from ss retirement to ssdi .
Last edited by mathjak107; 03-13-2018 at 08:34 AM..
it just means we have to do whatever we have to do to make it work for us
But what about those who are unprepared. Do you feel compassion, contempt or ambivalence? As a society, we have enough compassion that we (through the government mostly) will provide for them. Their numbers are growing, outpacing any revenue growth to support programs that provide for them. Do we just wait for those systems to collapse before doing anything about it?
sure i have concern but it is not my problem to solve . i have enough to do and worry about making sure we stay financially healthy . there is a big difference between my concern vs my problem . i spent my life trying to stay one step ahead solving my problems .
Except that someone who has become accustomed to making 100k and spending it all for the past 40 years finds it pretty difficult to suddenly adjust and live on 40k.
If you have a couple getting $1,500 per month from SS, that's $3,000/month. That's way more than the average local resident brings in from my neck of the woods.
Someone earning average salaries in a low income area is not going to be getting $1,500 per month each from Social Security.
pop on over to mister money mustache . it is the focus of tens of thousands on his site if not hundreds of thousands
In the context of dragging down the average SS payment, those are not very significant numbers.
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