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EulerLagrange.eth
@eulerlagrange.eth
Only in the US could we be required to pay into social security, a program that has a -4% return, and people still fight for it to exist.
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BrixBountyFarm 🎩
@brixbounty
Not going to say there aren’t problems with SS, yet I’ve always thought of it as a safety net for lower income earners. And less of social security as “my investments”. Would be happy to see cap raised further to increase the sustainability of it going forward. Could have been managed much better though.
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EulerLagrange.eth
@eulerlagrange.eth
My point is simply if you took the required amount and put it into the S&P500 the lower income earners would be much better off.
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0xl0wlevelcr0w
@l0wlevelcr0w
I'm all for this, but that's cause I'm a socialist and believe the government should own a higher percentage of the American economic powerhouse. I think when op realizes he's talking about socialism his position will change fast.
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EulerLagrange.eth
@eulerlagrange.eth
You don’t need a socialist policy to achieve this. Roth IRAs already have all of this supported. If you withdraw from it before you retire you get a huge tax obligation.
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0xl0wlevelcr0w
@l0wlevelcr0w
But Social security insurance != tax loophole accounts. It's dumb to compare the two. The reason we have social security isn't to optimize savings for individuals. We can do that without the govt. We have it to combat elderly poverty and increase life expectancy.
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