I have been working now longer than I have been alive; as most citizens of the United States have or will do.
Paying taxes I don't have a problem with. After all city, state, and federal governments all need the funding for something whether it be fixing roads and schools or providing our troops with effective equipemt (in times of war and peace).
Social Security, though; I don't know about. I understand that it served a very good purpose. When Social Security was implemented, it helped get a lot of people out of poverty. Now, however, it is hitting the younger, working couples harder than any other demographic.
People are living longer, healthier lives and they are retiring earlier than ever before. Now, I don't see anything wrong with that. Chances are they worked very hard to be able to retire at 50-55 instead of 60, and they want to enjoy the later part of their life while they can. But those of us who are younger are stuck paying for them...And hopefully when we grow to retirement age (early or not) there will be younger people paying for us to retire.
But is this fair? Is it even necessary anymore? I think for some people, it would be the only way they could retire and still get some sort of income. But there are so many retirement programs now. If I am paying into an IRA and a 401K plan for retirement, why should I also pay into Social Security? Couldn't I just "opt out" and let social security go to those that couldn't afford an IRA or whose places of business didn't offer a 401K plan?
If you were allowed to opt out of social security then it would hit the poor harder. If everyone where allowed to opt out of social security, regardless of whether or not they have a retirement package in their job then there would be no social security. No one in the lower income brackets would choose to pay into social security or put away for retirement... And we would go back to having thousands of old people in poverty.
Alright, that makes sense.
But, is it right for the government to determine how much of our money should have to go into social security? Especially with the unstable grounds that social security seems to be on right now. It seems as though every time I turn around, there is another story threatening that by the time I am able to retire and collect social security, the system will be gone.
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"Dream as though you'll live forever, but live as though there's no tomorrow" --James Dean
http://www.progressiveu.org/user/fanaile-drupal-org
It we opted out of contributing to social security, it doesn't just just effect the retirement community. Social Security monies are also allocated for public assistance. And now I have issues with the abuse of the system, see my blog on the subject, but by opting out of social security you are also removing what might have helped someone who may have needed a break or think of yourself if you were ever in the situation where you may need public assistance, and the money wasn't there and all that was, was going to those who abuse the system (you should read my blog on the allocation of public assistant).
We need to privatize social security, before our debt grows anymore.
+mspin
A dollar invested in the private sector, even in a passbook savings account, will yield a positive return. A dollar invested in Social Security, especially for a young person, is basically a dollar flushed down the toilet.
It is amazing to me that so many young people understand that they are going to get screwed by Social Security and yet they keep voting for Democrats who bare almost all of the responsibility for this mess and whose only solution is to raise taxes on young people. I find that to be irrational.