"If the money paid into S/S had been invested at even a low rate of interest, say 4% for all of the years that people paid it in, it would have been worth a million dollars per retiree. But the Washington Gangsters saw that big pile of money and could not keep their hands off of it.
The biggest offender was LBJ when he wanted to fight in Viet Nam, and underwrite the Great Society at one time. That started the raid of S/S funds."
-- There's a country in Texas that opted out of the SS system back in the 1980s before congress closed the loophole (States, counties, and municipalities had tyhe option to opt out of SS until that time). I hear their benefits packages are 4 or 5 times what SS offers.
Has anybody thought about re-opening that loophole? We'll simply let Americans trickle out of the SS system by choice. Sounds simple.
>> We'll simply let Americans trickle out of the SS system by choice. Sounds simple.
Works for me.
For more on that topic, see the Cato Institute's Social Security project:
http://www.socialsecurity.org/
Has anybody thought about re-opening that loophole? We'll simply let Americans trickle out of the SS system by choice. Sounds simple.State and local governments still have the option not to participate in Social Security as long as they provide an equitable program. My father's retirement is the Texas Teacher Retirement System. He doesn't pay into Social Security.