No I was talking to IB.WDRacing wrote:Are you talking to me? I don't know what "means testing" is.
That's a fair thing to propose, depending on the specifics. I think allowing folks to opt out within a few years of the retirement age would be fine, but I don't think there should be any kind of "refund" for the taxes they paid in all the years prior, because that's not how Social Security works - you don't have an account, but you're always free to refuse government assistance.WDRacing wrote:I think we should give people an opt out option. Thoughts on that?
I didn't forget to mention it, but that's another proposal that doesn't involve changing the amount of taxes a person pays or the amount of money an eligible participant receives.stebo0728 wrote:You forgot to mention means testing too right?
That will never happen, because anyone with half a brain would opt out, and there'd be no "other people's money" to pay out benefits with.WDRacing wrote:I'd like the opt out option to be for everyone, not just at or near retirement age.
Yes. Having an opt-out provision for payroll taxes is roughly the equivalent of eliminating payroll taxes. Making Social Security something you can opt-out of before retirement (in "pretirement," maybe?) is about the same, from a policy perspective, as eliminating Social Security completely.stebo0728 wrote:That will never happen, because anyone with half a brain would opt out, and there'd be no "other people's money" to pay out benefits with.
Wonder what you'd be saying if you turned 65 in 2008.WDRacing wrote:I understand that most others are irresponsible and need to have their hands held, but I'd fully prefer to take whatever I pay into SS and put it into *insert any investment I want*.
