Isn’t that what Social Security is?
Social Security is nothing more than a tax, just like Obamacare and just like this hair brained idea of Demorat Harkins would be. Another way for the politicians in DC to get their hands on the citizens’ money.
“...Social Security benefits are not guaranteed.
They are not guaranteed legally because workers have no contractual or property rights to any benefits whatsoever. In two landmark cases, Flemming v. Nestor and Helvering v. Davis, the U.S. Supreme Court ruled that Social Security taxes are not contributions or savings, but simply taxes, and that Social Security benefits are simply a government spending program, no different than, say, farm price supports. Congress and the president may change, reduce, or even eliminate benefits at any time.
As a result, retirees must depend on the good will of 535 politicians to determine how much they will receive in retirement. And what could be less guaranteed than a politician’s promise?...”
Link to Social Security’s Sham Guarantee: http://www.cato.org/publications/commentary/social-securitys-sham-guarantee