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Should we make Social Security and medicare optional?
For those that want to the govt to care for them when they retire should they make that choice upon entering the workforce to enter SS and medicare, and thus have their pay deducted? Instead of making it compulsory, we make it elective?
And those that decline will receive no benefits when they retire and thus not have any deductions from their paycheck? Arent govt imposed compulsory deductions antithetical to the basic freedoms and tenets vested in the US Constitution?
12 Answers
- Anonymous1 decade agoFavorite Answer
YES!
I'm a contractor but I make less than 30k a year. Can you imagine what a 30% total tax (SS, medicare etc added) does to me?
- Galaxie GirlLv 61 decade ago
I wish we could, but the problem would be that all the rich people (the ones who contribute the vast majority of SS $) would choose not to do it, and everyone who depends on it would only get a small fraction of what they expect to receive. Not that I have a problem with that, I think people should plan their own retirements and not expect/demand anything from the govt, but there would be such an uproar, that the idea would fail.
It's too bad. I wish we could get rid of it.
- ?Lv 71 decade ago
That would be a great idea if the money people put in was actually saved but at this point Congress spends that money now rather than saving it..
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- Anonymous1 decade ago
that is what all the people that are from india coming to america in the thousands per day want us to do so they will get more richer
dont fall for their foolishness homies
- Anonymous1 decade ago
Personally, I'd love to OPT OUT and invest MY SHARE on my own... but it would never happen.
I'd end up with a LOT of money, and some socialist commie like Obama would TAKE IT simply because "I can afford to pay more" to cover the IDIOTS who squandered their investment money away!
- TNTLv 51 decade ago
That would never work. The lazy people that we have to foot the bill for would just get Jessy Jackson to fight this for them.
- oohhbotherLv 71 decade ago
No - as the current financial situation shows - our economy is cyclical.
People can make the best preparation possible and still find themselves without an ability to care for themselves as they enter retirement and have no ability to rebuild lost wealth.
It is needed for all.
- Anonymous1 decade ago
I'd be for that, but I'm republican.
The major flaw in your plan: Everyone that works HAS to contribute in order to fund freeloading. If those who work exempt (duh! best choice!) then the lazy slogs don't get anything...