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Author: AngelMay Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1976697  
Subject: Re: Helen Date: 12/12/2012 2:46 PM
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I'd love to see these idiots call GEICO and demand a new car because they paid into car insurance their whole life. Or maybe demand that the local firemen come build them a guest house because they paid into fire protection but their house never burnt down.

It's social INSURANCE not Charles Schwab.

Mark




That's not the same thing, Mark.
My husband and I DID pay into the Social Security system all our working lives - for the express purpose of receiving that safety net retirement income. We knew it wouldn't do the entire job of supporting us in our old age, but we also knew that it would be the one thing that was guaranteed to be there for us. We could depend on it. We paid directly for that guarantee.

When you buy car insurance you are not at any time buying the right to a new car in the future. Same with a home or guest house as in your example. Your examples are just not the same thing.

When you buy car insurance, you actually get what you are paying for. Insurance - in case the car is damaged, etc. You get what is laid out for you in the policy when you buy it.

We paid into Social Security not only because we had no choice, but because we were glad to do it - glad of having that safety net in our old age. It would be disastrously unfair if the government suddenly pulled that safety net out from under us after we paid for all those years. Many people would simply end up in the streets.

AM
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