UnThreaded | Threaded | Whole Thread (20) | Ignore Thread Prev | Next
Author: PMcMullenCT Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5269  
Subject: Re: US Savings Rate Date: 1/16/2001 12:13 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
It's absolutely the exact opposite. By linking benefits to taxes paid you are telling people that they deserve social security and that they are "entitled" to it. By making social security a welfare program, which I believe it is and always has been, you are telling people that the benefits they receive are charity. Most people don't like to receive charity, so they will work hard to avoid having to "live off the government". If they think that they are entitled to the money, they don't feel bad about collecting social security.

If you make SS a "pure" welfare program, why not then take advantage of ecomnomies of scale, abolish SS and consolidate welfare for old and young?

I would agree that SS has problems, but I would prefer the privatization approach. Starting with the Bush plan to direct a small percentage to private savings accounts, and gradually increasing the percentage until it's 100% privatized. Along the way, extend welfare benefits to those who haven't saved enough.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (20) | Ignore Thread Prev | Next


Social Security Website
www.ssa.gov is a massive information storehouse about all things Social Security. Check it out if you're looking for anything from general info to personalized answers.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.