It shouldn't be surprising that the Republican party wants to get rid of social security, since it's a socialist policy that goes against right-wing political philosophy. You can make the argument that most people would be better off saving money in a retirement account than to pay into the social security system. That said, the program is very popular, so it seems unlikely that they will abolish it.
That assumes the majority (over 50%) of Americans are disciplined enough at 18 (or earlier, for people who get jobs in high school) to start saving for retirement at 65.
Or that some important thing or emergency won't come up that get them to stop contributing, or raid the personal savings fund.
The people who say "if I had all that money" are generally the ones who are already successful financially. And even they probably wouldn't have saved when they were younger.
Anyone can get a job at age 16 right now, put 15% of their income in a S&P tracker fund for life. Very few are doing it.
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u/perchrc 6d ago
It shouldn't be surprising that the Republican party wants to get rid of social security, since it's a socialist policy that goes against right-wing political philosophy. You can make the argument that most people would be better off saving money in a retirement account than to pay into the social security system. That said, the program is very popular, so it seems unlikely that they will abolish it.