Reply to What Would You Be Willing to Do to Save SS?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Kill it and make it optional[/quote]
Making it optional would be a disaster because so many people would opt out,  fail to save anything for retirement - I believe I read that half the people 50+ have less than $10,000 saved - and when retirement came about, then what? Are we going to let those people starve? 0f course not! They'd get some form of welfare (in lieu of SS they opted out of).  But what about the people who DID participate in the program - and with less in their paychecks had to forgo a new car....expensive vacation....larger house, etc......how is that fair? Or what about people who DID opt out, but knowing they had no SS, saved on their own? Not fair to them, either. With an opt-out option, there's no incentive to save for retirement, knowing there will be a safety net there regardless.

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In a free country they should be free to opt out. They are also free to suffer the consequences if they fail to otherwise plan. I don't like being forced into something because of what someone else may or may not choose to do for themselves.

There is a cap on earnings because there is a cap on benefits. It's not supposed to be a welfare program. The lower income already receive more than they paid and those having paid the most receive the least in proportion to what they paid in. The whole let's make the rich pay or those who actually lived frugally and made smart choices mantra is rather sad.[/quote]

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