Also, all income should be subject to social security taxes which should improve solvency of the fund. As someone with ample savings, I would not be opposed to means testing for benefits leaving funds as a safety net for those who truly need it and possibly allowing for more generous benefits. I had too many patients living on social security alone trying to decide between buying food or medicine.
Also, all income should be subject to social security taxes which should improve solvency of the fund. As someone with ample savings, I would not be opposed to means testing for benefits leaving funds as a safety net for those who truly need it and possibly allowing for more generous benefits. I had too many patients living on social security alone trying to decide between buying food or medicine.
Totally. I think that is part of what Biden is moving towards. Not clear on the details. Should ask Biden to spell it out more clearly, or some Substack. My summer job working in a bank was interesting. I got to see the size of the poorer people in my fairly wealthy university community. The ones who lived in the horrid scattered site public housing for the elderly. This was their entire income and one lady had cat food in her bag and she told me it was all she could afford to eat as meat. It is just shameful that with such wealth we allow this. It is just shocking. So, I still remember the checks being like 120 dollars a month, which just is not enough to represent a lifetime of working.
While I understand the means testing of social security, the reason it has support is that everyone is entitled to benefits as everyone who pays in gets them. I believe there is a maximum benefit and perhaps there should also be a minimum benefit.
I mostly agree, but means testing is a bad idea. First, everyone who pays in should receive. Second, means testing on such a large scale would significantly increase administrative costs.
Also, all income should be subject to social security taxes which should improve solvency of the fund. As someone with ample savings, I would not be opposed to means testing for benefits leaving funds as a safety net for those who truly need it and possibly allowing for more generous benefits. I had too many patients living on social security alone trying to decide between buying food or medicine.
Totally. I think that is part of what Biden is moving towards. Not clear on the details. Should ask Biden to spell it out more clearly, or some Substack. My summer job working in a bank was interesting. I got to see the size of the poorer people in my fairly wealthy university community. The ones who lived in the horrid scattered site public housing for the elderly. This was their entire income and one lady had cat food in her bag and she told me it was all she could afford to eat as meat. It is just shameful that with such wealth we allow this. It is just shocking. So, I still remember the checks being like 120 dollars a month, which just is not enough to represent a lifetime of working.
While I understand the means testing of social security, the reason it has support is that everyone is entitled to benefits as everyone who pays in gets them. I believe there is a maximum benefit and perhaps there should also be a minimum benefit.
Makes sense. If we don't need it we can always contribute the money to worthy causes.
I mostly agree, but means testing is a bad idea. First, everyone who pays in should receive. Second, means testing on such a large scale would significantly increase administrative costs.