The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: Help! My Social Security is in Lucent||Date: 7/29/2001 12:35 PM|
|Author: jpg1||Number: 46696 of 740023|
"But well off middle class who like to talk about personal responsibility (like myself) should step tp to the plate and offer to take the hit on Social Security benefits to prevent working people from being further exploited."
Two points. First, define "working people". Are not "middle class" folks that work "working people"? This distinction does not constitute mere semantics, given that the term "working people" often is used to demagogue certain issues with respect to what is "fair".
Second, stripping benefits from those who already have paid for them over their entire working lives constitutes an ex post facto "oppressive" tax. So much for the social compact of Social Security.
Personally, given the inherent inefficiency of government programs like this one, I would much prefer to take half of the 12.4% payroll tax that I pay each year and invest it myself, in exchange for the government keeping the other half of that 12.4% tax for the existing system with NO benefits to me in the future. They can continue to earn 1.2% with their half, while I'll kick the daylights out of that return with the half that I invest myself.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|