Well, that’s a good point.
I personally would like to see the abolishment of all income taxes, payroll taxes, etc. I would like to see a national sales tax combined with tariffs on imported goods and that’s it.
We need to transition to personal individual retirement/medical accounts and get government out of that business. How we get to that point and honor our commitments to people that have worked and paid into the existing system? I don’t know, but we need to work towards that goal.
“We need to transition to personal individual retirement/medical accounts and get government out of that business.”
Well ... SS was passed as part of the societal contract with workers whose age and/or health didn’t allow them to continue working. That is why it is funded by a tax on “work” and not “income”. The Depression demonstrated how their own planning for retirement had been deficient. Elderly were literally starving, and that showed a lack of societal respect for the elderly who had been productive members of society. People had proven themselves incompetent to plan for retirement, so government force was “needed”. SS was a poor solution for a lot of reasons. It doesn’t even accomplish its supposed goal of preventing the elderly from starving, since many SS recipients get far less than poverty-level benefits.
Even if we had “private accounts” as GW proposed, the government would still be using force against individuals to make them save part of their incomes. The advantages in that plan were better investment returns, and inheritance of the account when you died, but his plan still amounted to government force applied to individuals, and government still managed the whole thing.
My plan ends government force against individuals and guarantees a poverty-level retirement income. People are free to save as much or as little as they want beyond that, while being assured society won’t let them starve when they are too old to correct their mistakes. I think it’s a workable compromise.