My parents just recently became eligible for SS. I am encouraging them to get what they can while they can, because this entire house of cards is near the end. Their earnings were stolen for their entire lives, and I say get as much of it back as possible.
But I also share Weisshaupt's sentiment. I have encountered some old people who have said they don't care if my generation is subject to 90% income tax if that's what it takes for their SS payments. Yeah thanks. I guess they already had their shot at the ranch house, the 2.3 kids and the Labrador, so screw everyone behind 'em. For my own part, not once in my life have I ever even considered the possibility that I will ever see a dime of Social Security. I've known it was a pyramid scheme since my first job at 16. They should just combine it with income tax, because that's all the hell it is.
I would probably not have such inconsistent opinions on SS if there was anything to indicate that life as we know it is going to keep chugging along. If we weren't about to careen over the fiscal cliff, I'd say we should dismantle SS in a controlled manner. Anyone at or above a certain age should be eligible to receive what they were promised, since that promise (putting aside the question of why did people choose to believe in it) profoundly affected the way people prepared for their later years and they are now in no position to do otherwise. Anyone below that age should just accept that they're never getting any of what they paid back, but are now free to do with their own earnings as they see fit.
But that's never happening, and the end is near, so I say "smoke 'em if you've got 'em".
