Social Security should be treated like any other entitlement program. To receive the pension guarantee payments at age 62 or 65, regardless of how much was paid into the system, the recipient should have to prove need. This need would be based primarily on income.
Those individuals whose income exceeded a specified amount should not receive any payments. It makes absolutely no sense for high income retirees to receive any Social Security payments. So many retirees are forced to wait by the mail box for their check while others have two or more homes and receive the same amount.
There could certainly be a graduated system for payouts rather than a single income threshold. Additionally, should the income of the more affluent retirees fall below the threshold, for whatever reason, they would then qualify for either partial or full payments.
The argument that, "I paid into it, therefore I'm entitled to it.", does not make any sense. Virtually every other government entitlement program requires a means test. Why should Social Security be any different.
I simply find it strange that Bill Gates and I will get the same check when we retire. Does that make sense to anyone?
Your comments are welcome.
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