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Retirement Discussions / Retire Well on Less
|Subject: Re: SS conclusion||Date: 11/12/2003 2:00 PM|
|Author: workwayless||Number: 237 of 1491|
Here is my solution!
If the government can't make its obligations when they come do then do the following:
Pay a fraction of the benefits. Perhaps 50% if that would balance the books.
If Mr/Mrs Saver should have gotten $1700 then give them $850. They can supplement their earnings with their savings!
If Mr/Mrs Spending should have gotten $1700 then give them $850. They can supplement their earnings as a Wal-Mart greeter!
Since I'm Ms Saver, your solution is perfectly acceptable to me personally.
However, what about when Mr/Mrs Spending become too old and/or sick to work at Wally world? They can't survive on the $850. What then?
Now one can argue that SS was never meant to become a safety net but it has become one for many people. How's it going to fly when people start dying while the rich are still collecting their checks?
Another equitable solution that has been mentioned is to tie the COLAs to a more realistic index.
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