- Joined
- Sep 30, 2005
- Messages
- 18,264
- Reaction score
- 6,649
- Location
- Utah
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- Male
- Political Leaning
- Moderate
Yes x1000. The economy has out paced its usefulness. You can no longer live just on Social Security and people would be better off by investing the money thats taken from them in SS tax into a 401k or other investment portfolio, even the extremely poor. That said, social security as far as helping the disabled (all types) should not be done away with.
Replacement would be easy as well, all money invested into a retirement fund is not taxed. If its taken out of a retirement fund (even a bank) early, it get fully taxed at a higher rate (to avoid tax dodging).
Social security was never meant to be a living wage type of income. Certainly anybody who expects to live on their SS better have everything paid for and minimal living expenses..