TED Conversations

Teal Furnholm

This conversation is closed. Start a new conversation
or join one »

Escaping Social Security

Since social security isn't sustainable here is how we get out of it.
People who are today over 40 years old will continue to pay SS and will recieve it when they turn 65. People who are at this moment 0-40 years old will pay social security till they are over 40, then they stop paying and save, they will not get social security. People born after today will not pay or get social security.
- May seem unfair to those who have to pay but wont get it - they would have to pay either way and still wouldnt recieve enough to support them anyway. Chalk it up to taking care of their parents/elders. That is why they get 25 years to save, which is over half of their working years and is during the time of their highest earning potential (pay scale).
-If everyone did have to pay the SS tax is only going to become increasingly burdensome, this way it wont increase.
-The decreased tax burden would allow people to afford to charitably support the misfortunate elderly who dont save enough (though it is hard to say one way or the other what the economy or america itself will be like in 25 years).

I have other tax reform plans that I will propose later to supplement this idea, but am interested in people's opinions. The idea is simplicity, efficiency, and transparency in our legislation.

0
Share:

Showing single comment thread. View the full conversation.

  • thumb
    Dec 10 2011: If there is a mafia extorting money from someone, you cant extort money from someone else to pay extortion's victims what mafia promised to them, or you will become mafia's man yourself - its robbery.
    Privatization, light VAT tax, deleting unneeded goverment offices and functions of state is enough to pay off those who paid mafia for SS, and you wont need to force anyone to pay SS. Minarchism is the way to go.
    After paying them off, you could lower VAT tax even more to cover only infrastructure, police, military and courts.

    Add to that drugs legalisation which would point so much money from drug mafias' hands to state's pocket. With no SS and "free" medical care, we would not have to worry about fools drugging themselfs - they would not cost us anything. Every man have freedom to choose - if someone want to hurt himself, no harm happens to him - "Volenti non fit injuria".

Showing single comment thread. View the full conversation.