Most people my vintage believe that social security is not an entitlement, but a return on money we have invested over our working life. I know I want to believe that!
However thinking about it I believe Congress believes it is an entitlement, just like welfare, unemployment compensation, and a host of others. As such, it is in eligible for
cuts just like these programs are in their opinion.
I used to think I had an “account” with social security, IE the money I put in would be matched by my employer (or myself when self employed) and be available for me to draw on when I retired. How naive! It is really comingled with everything else!
The big evidence though is the cutting of the payroll tax that has occurred this year and others. I thought payroll tax was supposed to be deposited in “my account” for future social security checks. Obviously congress (both parties) don’t think that way as both are proponents of this “tax” relief that I thought was an investment.
Some sort of social security similar to the privatization suggestions could remedy this, but are dificult to control and manage, especially for those who don’t understand money or savings and need a nanny.
I think we seniors are open game