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0 pointsPaulDavisThe1st2y ago0 comments

This was known from the beginning.

I'm not a fan of the PR that surrounded the introduction of SS in the USA, but the technical aspects of how it was intended to work have not changed, and have worked as intended thus far. Fixing the demographic issues is relatively easy: just remove or increase the cutoff for SS taxes.

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scarface_742y ago

So it’s easy, just give the government more of your money instead of controlling it yourself?

You know if you increase the amount of income that is eligible for social security that means you also increase the benefit amounts.

How is paying more taxes that the government can use for whatever it wants better than saving your own money?

ryandrake2y ago

I don't understand why "you control your investment" is such a selling point. If I put $X in and get $Y out, I don't care whether I "control" it or not. Does the ability to choose between dumping your money into Fund A that pays 7% with 0.1% fee or Fund B that pays 7.1% with a 0.2% fee really make you feel like you're empowered?

All other things being equal, I'd rather not have to control it. One less web site to have to log into to micromanage something that should just be done for me. Let a index fund manager or the government get me my 7%. I really don't care at all.

I guess some people just hate on principle the idea of government doing anything for them, so for them, owning the account gives them a warm fuzzy feeling. I don't get it.

scarface_742y ago

Where is the money going to come from for you to get $y? In 20 years, the government is already going to have to raise taxes to meet then current obligations. How much more do you think they are going to have to raise taxes to meet increase obligations.

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scarface_742y ago

So it’s easy, just give the government more of your money instead of controlling it yourself?

You know if you increase the amount of income that is eligible for social security that means you also increase the benefit amounts.

How is paying more taxes that the government can use for whatever it wants better than saving your own money?

ryandrake2y ago

I guess some people just hate on principle the idea of government doing anything for them, so for them, owning the account gives them a warm fuzzy feeling. I don't get it.

scarface_742y ago

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