alt Hacker NewsCompletely wrong, except possibly if you're defining Social Security as welfare, in which case honesty would compel you to note that no one draws Social Security except based on having previously made contributions via dedicated taxation for social security.
Replies
I agree that Social Security is not plain welfare, but it has significant welfare components. Simplifying some, you get back something like 90% of the first $15,432 income per year but only 32% of income above that up to $92,988. (And above that, it's 15%.) Only getting 32% back of what you pay in so that the rest can be redistributed to others who made less could be considered partly welfare. Also, if you die too young, you don't get the money back, nor can you give it to your children. It's redistributed to other people. I'm not saying it's bad (I think it's probably good overall), but I can see how it's partly welfare.
Just a reminder... Social Security requires 40 quarters (ie, 10 years) of income to even qualify for a pension. And the pension is based on what you earn, which is what you pay into the system.