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That's why I said phase out, not cut outright. I'd say the most painless way to do it is allot people born after x date (say, 1980 or something, young people with time to set aside money of their own) less money, then people born after y date even less, and so on and so forth until retirement planning is in private hands. That way people have time to build their own nest egg.Social security is unsustainable, even if we pay back the IOU's. It was meant as a safety net and very few people were supposed to be able to draw upon it. it was designed for a 15-1 worker-retiree ratio, now we got a 3.5-1 worker-retiree ratio, and it's about to get narrower.-Dr House
That's why I said phase out, not cut outright. I'd say the most painless way to do it is allot people born after x date (say, 1980 or something, young people with time to set aside money of their own) less money, then people born after y date even less, and so on and so forth until retirement planning is in private hands. That way people have time to build their own nest egg.
Social security is unsustainable, even if we pay back the IOU's. It was meant as a safety net and very few people were supposed to be able to draw upon it. it was designed for a 15-1 worker-retiree ratio, now we got a 3.5-1 worker-retiree ratio, and it's about to get narrower.
-Dr House
