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URL:  https://boards.fool.com/social-security-isnt-insurance-it-doesnt-32160647.aspx

Subject:  Re: Attitude Question - SS Date:  3/15/2016  3:07 PM
Author:  AjaxofTelamon Number:  79352 of 97361

Social Security isn't insurance. It doesn't function like insurance. It's not even close. It is a welfare benefit for the elderly and disabled funded by a tax on earned income.

Nonsense - social security is insurance - and a very viable insurance. Thus far, the social security trust fund received $2.7 Trillion (with a T) more than it has paid out.

True. But solvency today does not imply solvency tomorrow. My recollection of the numbers is that this surplus will start going down in the next decade. And it will be gone in 3 decades (give or take a couple of years).

Well, solvency today to the tune of a $2.7 Trillion surplus implies, very strongly I submit, solvency tomorrow. And most important it is inappropriate to call social security a welfare benefit.


-=Ajax=-
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