Reply #16: First, that's overspending twice over. [View All]

The system doesn't have enough to pay total contributions in, with a return, much less a means tested benefit on top of that..

Second, you are suggesting an investment plan--getting back what you paid plus interest is an investment return--not insurance, combined with a general aid. If you want a means tested general welfare assistance, you don't need to tax wages as if it were an insurance program for wages.

The only justification for a tax on payroll is to insure the wage income. It isn't a payment because you are poor. It isn't a payment because you are old. It isn't a payment because you are old and poor. It is a payment because you paid part of your wages into a system that would provide when you were too old to earn wages. Simple, direct, and it works, or at least it works better than any other program.