A small tax increase would make the essential national retirement program secure for decades, our columnist says, but lawmakers would have to take action.
Needs based support is definitely a good thing, but that’s not what SS is. That’s closer to welfare and would require a much deeper look into people’s financial situation than a retirement program like SS.
I could make $500k/yr while working then experience some disaster/disability that takes it all away. Conversely, I could be homeless then suddenly come into massive wealth later in my life. Or, I could live a lavish life because my parents/SO are extremely wealthy, yet I am dirt poor on paper. SS is not designed for these situations, and attempting to modify it to fit them is probably a worse idea than bolstering other entitlement programs that are designed to fill in the gaps.
Needs based support is definitely a good thing, but that’s not what SS is. That’s closer to welfare and would require a much deeper look into people’s financial situation than a retirement program like SS.
I could make $500k/yr while working then experience some disaster/disability that takes it all away. Conversely, I could be homeless then suddenly come into massive wealth later in my life. Or, I could live a lavish life because my parents/SO are extremely wealthy, yet I am dirt poor on paper. SS is not designed for these situations, and attempting to modify it to fit them is probably a worse idea than bolstering other entitlement programs that are designed to fill in the gaps.