Reply to If you could opt out of social security, would you?

Forum Index » Money and Finances

Reply to "If you could opt out of social security, would you?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]The problem is that FICA is designed to protect the whole country from those who would not otherwise save and would spend their money and then would uninsured and without income when they get to an age when they cannot work.  For anyone who makes below about $80K (upper middle class), it is very easy to live beyond your means and to find plenty of places to spend any additional income that you have, even on quite reasonable expenses.  And then, they would be left at age 70, having a harder and harder time working, possibly getting fired or laid off and having no means to support themselves and then ending up being a greater cost to society.

The question I have for those who would opt out is:  how many of you are middle class and below?  In the DC metro area, that's about $90K and down.  I would guess that most of the people who would opt out, probably make $150K and up, which is about 300% of the national median HHI and about 166% of the DC metro area median HHI.  These are the people that the system cannot afford to lose or the system would collapse.  Basically, the system only works if everyone contributes to the system.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics