I understand the basic proposed purpose of social security. The desired effect of this program is to provide a financial social safety net for citizens so that the elderly are not without a predetermined source of income in their "golden years". Not only do I understand the intended goal, but I can also justify the merits.

However, while for some SS works as a mandatory investment tool that provides a guaranteed return on invested monies there are others for whom social security does nothing more than holding onto their money while providing and overall negative return rate.

It is my position that such a disparity in returns is unfair, unequal and unjustifiable. Furthermore, I believe that the nation as a whole would benefit economically if the retired class could see the largest amount of potential financial prosperity.

As such, I believe the mechanism of collection for SS should be revised. While I do not think it would be prudent to make this selection available to all- mostly due to the fact that since the Gov. sees prudence for SS in the first place they clearly feel some cannot or will not look after themselves- the best alternative would be to allow individuals above a certain income level to opt out of social security entirely.

We already have progressive tax brackets, so establishing a different set of rules for people based on total gross income is behavior that is neither novel nor commonly rejected.

Based on this proposal those in the established cut off and above could contribute between 0% and whereever the current maximum of collected income stands. Through these means those participating could see actual investment and growth rather than have loss of funds over time.

[Edited on January 11, 2010 at 10:21 AM. Reason : rejected]

1/11/2010 10:19:27 AM

There is a MAJOR problem with this. Current SS taxes are not being "invested" for the people from whom they are being taken. That money is being used to pay the current people collecting SS. The only way I see to "fix" SS at this point is to tell people under 40 that they aren't getting their money back and end it with this current generation. Pay out to everyone currently collecting, offer a lump sum payment or a percentage less than 100% doled out monthly after retirement to those over 40.

The system needs to go away, not linger on sucking the life from one generation to pay another.

1/11/2010 5:07:45 PM