Reply #4: The FOOL is wrong about "Social Security is fine" being a myth

[papau]

Myth 5: Social Security is fine
Since the growth of retirees will outpace the growth of workers, Social Security is not hunky-dory. Something needs to be done, sooner rather than later. There is no painless solution: Taxes will have to be raised, benefits cut, or a mixture of the two. Which you prefer probably depends on your income, other retirement resources, and belief in the purpose of Social Security. If you see it as a safety net to prevent widows, orphans, and the elderly from living in poverty, you might argue that taxes should be raised and/or benefits cut for wealthier Americans. If, on the other hand, you see it as a way for individual Americans to supplement their retirement income irrespective of other resources, you might be inclined toward broader benefit cuts -- and perhaps the possibility for individuals to do better through private accounts.


Does the FOOL think the projections (that say the System is fine forever as long as GDP growth exceeds the 1.6% assumption that produces the 2042 date) are done without taking into account the growth of retirees relative to the growth of workers.

What an ass. I guess he is trying to show how he is unbiased. What he does show is that he needs a bit more education.

sigh...