The “Means Testing” of Social Security is a very clever, even diabolical way of getting rid of the program entirely. So I would question the motives of anyone suggesting means testing.
Should you pay into Social Security all of your working career at 6% or 12% of your income and then find that you do not qualify for benefits because you failed the means test, then all of your lifelong contributions are a tax and a bait and switch.
Means testing is meant to create outrage within the wealthy class who are paying into Social Security, because if they view these payments as a tax, they will do anything they possibly can to avoid the tax, including killing off the program. The wealthy who fail the means test will demand the government return “their money” to them and at the same time demand that they no longer have to pay into the fund – effectively killing off Social Security.
Be careful what you wish for.
Yuddaman - 9 years ago
I have paid Social Security contributions for the last 46 years. I did so with the clear expectation and assurance that I would receive a defined benefit in my retirement. To decide to means test my benefit at this point is akin to Lucy pulling the football away just as Charlie Brown is ready to kick it. It is wrong.
The “Means Testing” of Social Security is a very clever, even diabolical way of getting rid of the program entirely. So I would question the motives of anyone suggesting means testing.
Should you pay into Social Security all of your working career at 6% or 12% of your income and then find that you do not qualify for benefits because you failed the means test, then all of your lifelong contributions are a tax and a bait and switch.
Means testing is meant to create outrage within the wealthy class who are paying into Social Security, because if they view these payments as a tax, they will do anything they possibly can to avoid the tax, including killing off the program. The wealthy who fail the means test will demand the government return “their money” to them and at the same time demand that they no longer have to pay into the fund – effectively killing off Social Security.
Be careful what you wish for.
I have paid Social Security contributions for the last 46 years. I did so with the clear expectation and assurance that I would receive a defined benefit in my retirement. To decide to means test my benefit at this point is akin to Lucy pulling the football away just as Charlie Brown is ready to kick it. It is wrong.