A small tax increase would make the essential national retirement program secure for decades, our columnist says, but lawmakers would have to take action.
Needs based support is definitely a good thing, but that’s not what SS is. That’s closer to welfare and would require a much deeper look into people’s financial situation than a retirement program like SS.
I could make $500k/yr while working then experience some disaster/disability that takes it all away. Conversely, I could be homeless then suddenly come into massive wealth later in my life. Or, I could live a lavish life because my parents/SO are extremely wealthy, yet I am dirt poor on paper. SS is not designed for these situations, and attempting to modify it to fit them is probably a worse idea than bolstering other entitlement programs that are designed to fill in the gaps.
Nah you just make it needs based. Rich ppl don’t get a check from ss
Needs based support is definitely a good thing, but that’s not what SS is. That’s closer to welfare and would require a much deeper look into people’s financial situation than a retirement program like SS.
I could make $500k/yr while working then experience some disaster/disability that takes it all away. Conversely, I could be homeless then suddenly come into massive wealth later in my life. Or, I could live a lavish life because my parents/SO are extremely wealthy, yet I am dirt poor on paper. SS is not designed for these situations, and attempting to modify it to fit them is probably a worse idea than bolstering other entitlement programs that are designed to fill in the gaps.
Eh. One may be rich today and poor tomorrow.
I think Social Security income is taxed above a certain limit as well.