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Old 01-10-2019, 04:57 PM   #161
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Join Date: Nov 2010
Location: Vermont & Sarasota, FL
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Originally Posted by bada bing View Post
Changing the meaning of words cuts both ways. Social Security has a rather heavy dose of redistribution built into the benefits payout. It is no where near a bought-n-paid for entitlement for all participants. Some folks (high earners and/or log careers) are taxed much heavier relative to benefits they are "entitled to", to pay out greater than market benefits to others (low earners - short careers - spousal benefits).

Is Social Security pure "welfare" ? Of course not, you have to pay in something to qualify. Is it a 100% earned entitlement for all participants ? Of course not, there is a pretty good dose of "welfare" designed into the program. A lot of the people who climb up on soap boxes about "earning" their benefits, in fact, did not "earn" all of their benefits. .....
I view this aspect of SS as having an element of "success insurance"... as an example, if we looked at my peers with the same degree from my alma mater... in theory we all had similar career opportunities... some graduates did very well and others less so and the tilt of SS essentially pays higher benefits than earned to tose who were less financially successful and lower benefits than earned to those who were more financially successful. I'm ok with that as whether I knew it or not it was part of the deal from the get go.

If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
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Retired Jan 2012 at age 56...60/35/5 AA
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