The Social Security system was designed to do just one thing, supply a supplemental income to people who had worked and paid into it. The first thing they did was give benefits to people who had never paid into it. It was designed to be a separate fund that wouldn’t be used as a piggybank by Congress. That ended because LBJ “conformed” the budget to get access to the money for his Great Society. Along the way Congress added in more and more payments to people who had not paid into the system. Another flaw was the system was designed to exist in a population that was forever getting more and more workers paying into it to make up for inflation. Then, people started living well beyond the point of 65, which was chosen because the average recipient died about that time. My mother, born in 1917, lived to be 102. In the last 30 years people have started living longer still. At some point, the can can’t be kicked any farther.
Well then you should show us your virtue, you don’t have to draw on it. But I paid into it and I will draw on it.
“The Social Security system was designed to do just one thing, supply a supplemental income to people who had worked and paid into it.”
No, it was designed to collect more taxes for the government, by setting the date you could collect on it at 65 when the average lifespan was 63. They just didn’t plan on modern medicine changing the variables of that equation so quickly.