alt Hacker NewsSo why did we make them pay Social Security taxes for the entirety of their 40-year careers? They could've invested the money at a better return than Treasury bills and had way more liquid assets.
So why did we make them pay Social Security taxes for the entirety of their 40-year careers? They could've invested the money at a better return than Treasury bills and had way more liquid assets.
Why do you pay insurance for anything? So the funds are there if you need them.
The goal is not to maximize return, it's to guarantee a check that keeps you from being destitute. That's it. That's the whole point. Not limitless growth, not a nice bit of sugar from Uncle Sam every month to supplement millions of dollars in assets. To keep you from being dying in the street as an elderly person.
If we're going to call the current abuse of OASDI a legitimate use of insurance, then I want to be able to get my home protection policy company to help me out on a down payment for a house. I've paid in, after all. It's the least they can do.