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URL:  https://boards.fool.com/social-security-is-a-welfare-benefit-and-it-is-a-32161210.aspx

Subject:  Re: Attitude Question - SS Date:  3/15/2016  9:32 PM
Author:  rharmelink Number:  79372 of 97361

Social security is a welfare benefit. And it is a tax...and it is a welfare benefit because it is transfer from those currently working to those currently collecting.

And a very regressive tax at that, because of the caps on earned income and exclusion of investment income.

But, yes, an income redistribution system.

IMO, better to dump FICA and fund SS/M from general revenues. The income tax rates could be increased significantly, to adjust for loss of FICA taxes. Merge SS into existing welfare programs and convert Medicare into a single payer health care system.

Maybe even scrap all welfare programs into a basic income system. We'll eventually have to go there anyway, considering how much will be able to be automated. What else do we do when much of the population no longer needs to be employed?
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