(March 6, 2011 at 7:29 am)Dotard Wrote: Not everyone makes enough money to save for retirement. For some it all goes to survival (food, shelter, clothing).
Give them back their taxes and they can, combine that with keeping inflation under control so their savings don't lose purchasing power and if you can save $100 a week you'll have $200,000+ before interest. People who earn more can easily save much more than that. Plus giving tax breaks to elderly people, such as removing sales tax for them, would make their money go even further.
Quote:Doing away with SS completely would leave many folks just out in the cold. I personally know 3 retired people who's entire source of income is SS. If it were not for that, they would have zero (0) income. Nothing, nada, ziltch.
There is a big difference between a system like SS that is mandatory for everyone and a system that would care for the destitute poor, plus if people were required to spend all of their savings before qualifying for this care then there would be much less need and much less to pay out and taxpayers wouldn't have to pay for the rich retirees who automatically qualify for payments, even if they are sitting on $10 million dollars or more.
Quote:There has to be a better way than just abolishing SS that wouldn't leave our poor elderly in the streets when they become to old to work any longer.
You're making a mistake by saying no social security == no welfare.
.
