Reply #138: Please see my answer to you above. [View All]

When wealthy people receive Social Security, it is virtually just a transfer of most of their benefits to the general funds receipts.

The much bigger problem is the low tax rate for wealthy people. If wealthy people receive Social Security and keep it, is because of the low tax rates and many loopholes they have.

No. You buy an insurance policy. You don't want the insurance company to means-test your benefits. That would be highly unfair.

There was a certain sort of tacit contract made between us when we paid into Social Security in our youth and our government that we would pay in and report our income honestly and the US government would pay our benefits just as they paid our grandparents and our parents. The problem is that Bush fought two wars without raising the money through taxes or other spending cuts to pay for them.

The Bush wars along with Wall Street's gambling pretty much ruined our economy and sent our deficit sky-high. We need to go back to a rational tax policy that taxes the money where it is -- under the control of corporations and wealthy individuals. That will solve any inequity that might exist because a now wealthy person who paid into Social Security receives benefits. The benefits are so small anyway that a very wealthy person like Soros might not bother to apply for them considering that he would have to declare them on his taxes.