[wmfights]

I believe the threshold is $15,500. After this for every 2 dollars earned your social security is reduced 1 dollar. So if you own a business, have assets that produce income, or work the "contributions" you paid in to this "pension plan" (where benefits were determined by what you paid in) are reduced.

IOW, the nanny state will decide whether you should get your allowance or not.

[The Antiyuppie]

There is a certain amount of truth to this. When I was a kid, I could not screw up because my parents were not in a position to help me very much if I screwed up, and I knew this, and so did they. So, generally, I didn’t. But I saw people whose parents COULD help them out if they screwed up, screw up. Now, you don’t need parents (at least not your own, anyway) to bail you out...and you don’t have to listen to any “I told you so’s”, either.

[re_nortex]

Rick Perry was right: it is a Ponzi scheme and ought to be eliminated. An intrusive government (FDR and Frances Perkins) spelled the end of the thrifty, self-sufficient American. Similarly, Ronald Reagan was right about the dangers of Medicare. These socialist programs were unheard of during the good governance of President Calvin Coolidge. This Republic would be far better off without these things.

[TBP]

Excellent analysis.

[weezel]

When SS was started, a person had to be 65 years of age to draw however, the average life expectancy was 59 years. dim-0s knew this, and the plan was to rob working age Americans their entire working lives, only to have them die before becoming old enough to draw.