No. of Recommendations: 2

<<H and nearly everyone else here continues to ignore is that the benefits paid by these programs can be changed by Congress at any time.

Sure. And an insurance company can go upside down tomorrow. Ask my mother. She bought a "safe" annuity and had the company go bankrupt within a year. Nothing is perfect. Why do you demand perfection from SS when you don't from the alternatives?>>

People should investigate the financial stability of insurance programs before they invest their money in a policy. The prudent person who looked at the liabilities and assets of Social Security and Medicare would not want to invest in such a scheme, I suggest.

Still, it's quite true that if Gen X, Y and Z can be persuaded to pay the much higher tax rates needed to keep those programs funded, they can survive and even prosper.

But yet more increases in taxes is an unfair burden on Gen X, Y and Z in my opinion. And Gen X, Y and Z might start noticing that it is unfair and demand that Congress permit them to redirect their taxes into retirement programs they own and control.

I think that's pretty likely, myself, and it would be the fair and equitable thing to do, in my opinion.

Seattle Pioneer

Print the post  


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.
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.