Do you support means testing for Social Security Insurance benefits?

Question

Let's look at workers A & B. They are both getting ready to retire. They have both paid the same amount for the premiums based on a lifetime of earnings of about $2,000,000. They are ready to undergo the means testing.

Worker A has always driven a new Cadillac, traded in every 2 years.
He lived in homes he could barely afford.
He drank Johnny Walker Blue Label.
He vacationed in exotic locations.
He bought his clothes at Neimann's.
He was never able to save because he spent it all.
His means is a net 0 because the amount of consumer debt he has
equals the equity in his home.

Worker B has always driven older pickups, bought after they had depreciated out..
He lives  in a modest home he could easily afford & paid it off years ago.
He drank Budweiser.
He vacationed at the local lake in a tent.
He bought his clothes at K-Mart.
He has been a diligent saver most of his life.
His means is a net $350,000 with no debt.

the means testing says worker A gets the benefits & worker B does not?

If you believe means testing is a viable path for SS, please explain why worker B will get less (or none at all) than worker A?

Connie · Accepted Answer

They paid in equally,  they get EQUAL benefits. Obviously a radical liberal way of thinking,  that they think they know better than us how to spend our money......f*** them!!!!! I heard something like this on the radio the other day, that some b****, I think Christina G........something is trying to put forth that idea....very radical. Like you work all your life & want to buy a fishing boat....government will step in & say"I don't think you should be spending your money on that". Scary sh** going on these days.....
***edit: I looked into above...telling how your money isn't safe in a 401K. See:
http://www.wilkowmajority.com/
...refer to Christina Ghilarducci, featured on his header page now.

? · Answer

ability finding out ability has been pronounced suitable to Medicare so as that if a individual has an income over a definite point, he does not get Medicare in any respect. actually everyone who paid into SS gets some benefit in accordance on your contributins (and your employers). in the journey that your benefit at retirement or once you become disabled is a definite p.c. below poverty line like 200% to illustrate, you besides mght get SSI out of your county besides to SS to strengthen your income to the federal poverty line. precise now, Medicare has larger the month-to-month quotes for seniors who've over $80 5,000 a 12 months in income. which will help lots to maintain $$. I additionally think of that folk earning over $106,800 could easily pay into the Social protection fund like actually everyone else who earns under that.

? · Answer

1) They both paid in... they both cash out.

2) $350,000 sounds like a lot... but in retirement terms, it equates to an income of $35,000 for ten years... usually taxed as it becomes liquid. 

Retirement is trickier than most people think.

Anonymous · Answer

There should be no testing for SS. It's OUR money paid in for the years we were employed.
Take it OUT of the general fund and place it back in trust like it was intended or start privatization.

Tom Jr · Answer

Responsibility isn't rewarded in America anymore.  The machine has been built to make us dependent upon it.  Sad; but true.

Anonymous · Answer

Absolutely NOT....It is a fund and whoever paid into the fund is eligible to collect....What they spend their income on is none of the government's business....

fatboy · Answer

why test anybody?

the exception being whether or not you're here legally...

Trending News

Do you support means testing for Social Security Insurance benefits?

7 Answers