Good Luck
New member
Who gives a rat fuck what lefties think of investing? They think wealth comes from a donkey's asshole.You will get no disagreement with me about investing. The reason I stated tbills is because every time you discuss investing with a lefty, they go off on some tangent about how the money would all have been lost investing in the market.
You and I disagree on the individual accounts. The money I put in should be mine or my heirs. It should never go to the government should I happen to pass away early. Those are MY savings. Not Uncle Sam's
As for individual accounts, I agree with you in principle, but also understand that SS is, in the end, a socialist program for retirement, and NOT a federal IRA system. FICA is a TAX, not an IRA. It is our money, but it has been coopted by government for a purpose. Like any tax, we can disagree with or agree with the purposes. I don't mind paying taxes when the money is spent wisely.
In defense of the SS program benefits system, there are people who, for various valid reasons, did not or were unable to contribute enough over their working lifetime to sustain minimal SS payments for the extent of their retirement. There are people who retire early due to health problems, physical disabilities, etc. The system was designed to help those people out, as well as provide retirement income to the rest of us. To be self sustaining, the money to pay for low-end contributors has to come from somewhere. (remember, the idea is to keep SS self sustaining so we don't end up using more and more general funds to keep it afloat.)
Also, keep in mind that if a person does expire early and if they have dependents, then those dependents DO get some (if not all +) of that money back until they reach their majority. If the person expires young, with very young children, the surviving dependent benefits often end up significantly exceeding the individual's contributions - even if we used private investing. And, once again, to be self sustaining, the extra money for surviving dependent benefits has to come from somewhere other than general fund revenues. It is those extra payments without corresponding contributions that, IMO, make thinking of FICA as a tax instead of an IRA palatable.