The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: Obama on payroll tax||Date: 6/17/2008 12:01 AM|
|Author: CycleGirl||Number: 13456 of 20062|
Seattle Pioneer wrote: Don't increase taxes, means test benefits.
The problem isn't that taxes are too low, it's that too many upper middle class and upper class people receive benefits from this welfare program.
Why pay benefits to people thatr don't need them?
For one thing, you're punishing people for doing the right thing. That is, for saving and investing.
For another, people paid into the system for many years with the understanding that they would receive a benefit. Even if it's reduced, they are entitled to something. There would be a lot of justifiable outrage were people to lose their benefits entirely.
Who gets to decide whether or not people need the benefits? Certainly not the person who's going to receive it!
Honestly, I don't know if when I reach the age of 62 or 65 if congress would decide that I "need" my benefits. As it stands, it's my plan that Social Security would be about 20% of my income at that time. Do I "need" it? Well, I won't starve without it.
Perhaps some will think of me as one of the selfish middle-class, but I feel entitled to my benefits. That being said, if they scaled down benefits by X-percent for everyone receiving more than X-dollars in order to keep the program solvent, that would be reasonable.
|Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|