"Why pay benefits to people who don't need them?"Because we spent a lifetime paying premiums into the mandatory INSURANCE program.Most of us would be glad to opt out of Social Security if they merely returned all of our premiums. (Most will be lucky to get back their contributions in their lifetime, much less decent interest on the money.)Making the program mandatory and paying benefits to all regardless of need turns out to be good politics. All of us have an interest in keeping the plan going.Cutting off benefits to the well off means that Social Security becomes a welfare program. Then the middle class will find reasons not to support the program and it will go the way of other welfare programs.The Democrats claim the Republicans want to kill Social Security by making modest stock investments possible. But in cutting off benefits and converting it to a welfare program, the Democrats threaten to kill Social Security.
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