I don't have a problem with SS in principle but it should be self-funded with people getting back what they put in plus the actual interest earned. It should not be a Ponzi scheme where current retirees are paid with funds contributed by people who are working now.GannonFan wrote: ↑Mon Jan 23, 2023 3:27 pmYup. What happens when people do screw it up and now they have nothing left in old age? Just tell them tough luck, hope you die soon? People, a decent amount, will screw it up, no matter what. I'm certainly not saying we need to guarantee them a life of endless riches, but not being dirt poor and unable to afford the basics doesn't seem like too much of a reach for us to provide as a safety net. Deciding on what that safety net needs to be is the issue, not whether we should have one at all.kalm wrote: ↑Mon Jan 23, 2023 2:23 pm
Will they be? Were they enough in the past ? SS is basically insurance against old age poverty and savings that enables a reasonable retirement age. Teddy Roosevelt’s Square Deal of retiring with dignity.
Elderly poor people are a sad thing in the richest country on earth.
I also wish it included the option to self manage your funds. My SS would be worth significantly more if I was able to invest what I contributed in the market rather than letting the SS administration handle it.