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You were nice enough to pay for the retirement of the generation before you. With the excess going into the general fund of the US government. And because of that, you think you are "entitled" to have ME pay for YOUR retirement. I am not sure that I feel the same way.

#24 | Posted by gtbritishskull

Everyone forgets that Social Security is an INSURANCE program (it says that when you read the official name of the program, which is the 'Old-Age, Survivors, and Disability Insurance' (OASDI) program). And like other insurance programs, the premiums being paid by TODAY's policy holders are used to pay the benefits of those who are collecting TODAY. When you buy a life insurance policy, do you honestly think that it's your money that is being put into some bank account which will be held there for your heirs until you die? What if you died three months after taking out the policy, don't you think that your heirs will get 100% of the face value of the policy? Of course they will. But is that fair to the other policy holders who didn't die and are still paying their premiums? Yes, because that's the way insurance works.

And as for this idea that if I had saved that money on my own, I'd have more what I'm going to be getting back from Social Security, tell that to the parent of young kids when the breadwinner was killed on their way to work one morning. Or the person who worked 30+ year and a few years before reaching the age of 62, they're injured and are unable to work. What about people in these situations? Don't they deserve what was promised to them and for which they've paid, even if it wasn't enough to cover 100% of the benefit that they'll eventually receive? That's part of the social contract which all of us 'signed-up' for as Americans.


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