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Politics : Politics for Pros- moderated

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To: Stevefoder who wrote (238769)	2/20/2008 12:07:35 PM
From: TimF	Read Replies (2) of 793868

If people are denied SS because they saved and invested for oil age, then why would they save or invest for old age? Because if they do they can have a much larger amount of wealth than if they rely on social security. If people are denied any specific government benefit because they have more wealth or higher income it discourages work and savings at the margin where the benefit starts to be withdrawn, and this is a problem, but that doesn't mean we should just hand government benefits to everyone. Social Security is looked at as being very different because people make "contributions" to it for years. But those contributions are a tax similar to any other tax. You also make "contributions" to Medicaid, for food stamps, for SCHIP, for farm price supports (which don't cut out based on income, but which most people don't get, and which actually harm most people by making them pay more for food). I am a complete dumb ass. I should have been spending all my money and living it up. Uncle Sam will take care of me. Not as well as your savings and investments will take care of you if you continue to manage them well.

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