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[-] ArbitraryValue@sh.itjust.works 15 points 1 year ago* (last edited 1 year ago)

At least in principle, social security is a mandatory way of saving for retirement, not simply a tax. In that context, it makes sense that contributions are capped since payouts are capped.

[-] zout@kbin.social 8 points 1 year ago

Then why are CEO's even paying for it?

[-] Thaumiel@lemmy.world 3 points 1 year ago

Because it's cheaper for them than actual social safety nets.

[-] rynzcycle@kbin.social 7 points 1 year ago

Right, but it's not really and hasn't been for a while. It's at best a ponzi scheme and a lot of us have been left holding the bag.

It's time to make it what it always should have been, a little touch of socialism so that people don't die/go hungry/end up homeless when they are too old to work.

[-] jimbo@lemmy.world 1 points 1 year ago

How many years has social security been around? Pretty long running Ponzi scheme. Who's been left holding the bag right now?

It's the shittiest way possible to save for retirement.

[-] CarbonatedPastaSauce@lemmy.world 10 points 1 year ago

But have you seen my Beanie Baby retirement fund?

[-] MossyFeathers@pawb.social 2 points 1 year ago

Hey, there are a few beanie babies that are actually worth something now. That said, they're only worth something because they're rare, most people that had them didn't keep them in an acrylic case for 30yrs, and iirc their value is ironically tied to manufacturing defects.

[-] jimbo@lemmy.world 0 points 1 year ago

It's actually not. A lot of people do absolutely nothing for retirement, which is infinitely worse.

[-] prole@sh.itjust.works 2 points 1 year ago* (last edited 1 year ago)

Social Security is not "a mandatory way of saving for retirement," that's a bullshit way of looking at it. You are not putting money into an account, and getting that money back when you retire. It 100% is a tax. Tax is not a bad word. It's a social safety net, payouts should be capped, but contributions should not be (or if they are, it should be much much higher).

That's how functioning societies work. They take care of their old and infirmed.

this post was submitted on 26 Nov 2023
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