The message that comes across is that SS and Medicare are a burden to the budget, which is odd because the only time SS would affect the budget would be when it runs out of funds in 2039. Up until then it has paid for itself through the payroll tax deduction.
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If I were younger, talk of ending the program would trouble me. Say an individual is 40 years old. They have paid into SS for 20 years. But those were all transfer payments to current retirees. So there is no money sitting in this guy's account earmarked for him. Will he get 20 years credit or will they make him start over? These are things people need to know to plan for their future. Right now there are no answers, yet people need to know. That's why I alert people to the controversy surrounding SS.
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So whether Republicans would kill the program or replace it with a privatized program is up in the air. I think most people would like to know so they can plan ahead. The reason I pick on Republicans is because they are the party that always claim SS entitlements are putting the country in debt.
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The good thing about SS is that if you don't work then you don't get any SS benefits. I'd like to see some proposals going forward, like you suggested, but both sides seem stubbornly silent on the issue.
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I don't believe either party represents me, so I'm an independent. Also, I've always worked. I never felt it was optional. I've supported my family, sent kids to college. I pay my bills. I have never expected anyone to do that for me. By the same token I have absolutely ZERO control over who works and who doesn't.
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I think a directed privatized plan would be fine and a choice of investments from aggressive to conservative would be great. But I do think it should be mandatory because some people with go though life never saving a dime, so without any SS retirement income they become a bigger social problem.
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Thanks for responding. I think this is an important topic. Whatever is decided the sooner the better because longer you have to plan and save for retirement the easier it is to make it happen.