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Let me clarify my comments about soc sec. The system has been in jeopardy for a long time. We watched Japan go through devolution of their standard of living because their aged population was so large and that affected the economy greatly 23 years ago. We knew we were facing the same.
We also had NO leaders really who were willing to offer positive reform paths to update soc sec. When we got soc sec, no one really thought about boomers and the effect of a longer living very large group of our citizens and how that would affect the system at large.
Gen X, my gen, has been told for years, there might not be any left and we have endured them raising the age, and they are trying to do so again.
My view is that reforms are needed now. People with high net worth do NOT need soc sec. I don't care that they paid in. I paid in making six figures, and if I am blessed to have high net worth, I won't expect to add to it with soc sec. I would gladly waive my right to it, in that case, so it can go towards someone who needs it to live. Giving people with millions in IRAs and high retirement income soc sec additionally will only ensure taht Gen X, Y and Z don't get any. Furthremore, many are trying to live on 2K a month and could receive perhaps $500 more a month, if the wealthy did not take soc sec, or not for as long.
This was designed to ensure Americans could retire with dignity. It was not designed to make the wealthiest people even more wealthy while 40% of Americans in retirement don't make enough to live.
This program needs modified. It is immoral to use it the way we have been. Don't call me a liberal, because I voted GOP most of my life and am a very conservative Catholic. I am for a just world. I am for a nation to not erode its standard of living just so that boomers can add even more money to their retirement. I am speaking in generalities. I realize there are boomers who are struggling and they should be getting more soc sec. When greed, selfishness and entitlement are the main hallmarks of a system that was designed to ensure dignity for all, it is sure to fail. We must instill ethics and morality to our systems. Life matters. The elderly matter. This nation needs to rework soc sec now.
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