Social Security and Medicare were to be paid for with the related taxes we all paid. They are NOT an “entitlement”.
The fact that Congress undercharged (in order to buy votes) and squandered the money we paid in is NOT OUR FAULT!
Blame Congress - the “criminal class in America” according to Mark Twain.
Social Security is an income re-distribution program as well as a ponzi scheme.
http://www.ssa.gov/policy/docs/issuepapers/ip2009-01.html
And Medicare is a worse income re-distribution mechanism, you pay in based on your income (no cap) and take out based on your medical bills. Obamacare also imposed expands the Medicare tax on individuals making over $200K and married couples amking over $250K.
SS and Medicare are a Ponzi scheme and nothing else. As long as we had more workers than retirees, we were o.k. Now we have more retirees than workers and it’s not o.k.
If people only took the actual amount they paid in, that, too, would have created solvency.
P.S. - FICA is a tax, noting more, nothing less. It is not Insurance!!! It is YOUR Fault for being so gullible and failing to do the math.