Quote:
Originally Posted by Cimarron29414
Yes, you have to fill in the hole that you dug. First, you have to quit digging the hole. We are still digging.
Specifically, I would happily relinquish all rights to the SS funds I have already contributed - as long as I don't have to contribute any more.
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Except that social security is still a pay as you go system. Relinquishing your future benefits don't change the fact that money must be put in right now to pay for the benefits that are being paid right now. In fact, ss still runs a yearly surplus. If you cut contributions right now, you'd have to cut not only future benefits, but existing benefits right now.
That is what all the talk of privatizing or doing away with ss ignores. To change from the current pay as you go system you'd have to either run massive deficits in the short and medium term, or cut current benefits.