(02-06-2021, 07:07 AM)jagibelieve Wrote: If I recall correctly, there was a proposal in the George W. Bush administration to do away with SS and instead put those funds confiscated earnings from tax payers into an interest bearing account that could be invested.  The account would also have the ability to be passed down to heirs of an estate.  It was shot down because it would "benefit the rich".

I think it was shot down because if you let people stop paying in, you accelerate the date when the fund is out of money and cannot pay out any more.  We have to have young people paying in so we can pay out to the old people.  Yes, it looks like (is?) a Ponzi scheme.  That's why you can't let people stop paying in.

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(02-05-2021, 09:55 PM)flsprtsgod Wrote: You guys are great, acting like anyone will have social security when these 25 year olds reach that age.

They will never do away with Social Security, because seniors vote in greater numbers than any other group, and there are more and more seniors every year.

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