Watches & Warnings Warnings

Re: What Do You Think Needs to Be Done to Save Social Security?

That's easy:
(1) Remove the income cap so that all the millionaires and billionaires pay the same percentage into SS that us working people pay, and
(2) SS was meant to help the destitute in their old age. It was never meant to be what it has morphed into - a retirement account. So quit paying SS to anyone with over $100,000 in assets. I know this is a rather high limit and these folks are nowhere near destitute, but what the heck, the way we have redfined the "middle class" and destitute make no sense anyway. Go ahead and scream, but the main reason SS is going broke is because people contribute $50,000, retire at 60, live till 90, and withdraw $500,000 in benefits. That's a heck of a return on your money!