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+--- Thread: Republicans and Democrats can we all agree with an individual opt out system for social security? (/thread-52049.html)
Pages: 1 2
- flower - 12-18-2012 12:35 AM
You have privitized retirement accounts called 401Ks or IRAs. Social security is a steady reliable benefit paid to you if you should lose everything else through speculative investing, early withdrawal, etc. If you become disabled and stop working or a spouse dies without funds for his family, for example, social security pays them benefits. We cannot opt out of a federal mandate like paying social security, medicare because your employer matches your contributions. Maybe they should stop doing that for you. It is like with the health insurance mandate, if a few million people dont comply, it affects the cost of premiums for the rest of the people. If you could opt out by an Act of Congress, you would endanger the benefits currently paid out to retired, disabled, widows, children, indigents (SSI).
- Lenny - 12-18-2012 12:35 AM
Well social security wasn't exactly going to pay off for many people to begin with. The age at which you received money was at 65. The life expectancy of a person at the time was lower at 63, I believe. Well, science got ahead of the government and now people actually draw from the social security pool (or what the government wants us to think is the social security pool, since they used the money and now there is none of it left). It was just another way to get money. Fortunately for me, I get to pay the social security tax twice since I pay for myself and my business. And I probably will never see a penny of it again. Oh joy.
You let people "opt out?" Say good bye to social security. Good riddance.
- Philip McCrevice - 12-18-2012 12:35 AM
I'm for it! Let's do it now!
I will gladly sign a paper today giving up all my Social Security benefits if I can start putting my SS tax into my own 401k today.
I promise to not ask for any SS payment. You promise never to tax me for SS anymore.
Deal!