But, as each added bonus is sucked up by the recipients without a pause, perhaps it's time to ask:
Is there a better way to do this?
Here's an idea:
For each 6 months of bonus payments received from this point on, the recipient's Social Security account gets docked for 6 months of earned service, over and above the failure to add to those qualifying years while unemployed.
Those that cannot wait for their money, will lose at the other end. They will, in essence, be raiding their own retirement accounts to pay for their current standard of living.
Isn't that what people with IRAs have to do, should they have need? By treating the SS system in a similar way, we are reducing the amount that the recipients will be able to take out, when they retire. In that way, we are reducing the eventual debt that will fall on taxpayers.
For some people, it is a good, or at least acceptable, short-term solution for their cash flow problems. By introducing the benefit qualification reduction, they will have to weigh the pros and cons of getting their money now, or making decisions to cut their expenses, and conserving the FICA account for the future. Some will decide to forego the payment, and keep their earned SS years intact.
By doing this, we will start shifting the thinking of the public towards the idea that TANSTAAFL.
3 comments:
I've got another idea. These people lost their jobs because of the actions of the governors of their individual states both Democrats and Republicans. Let the federal government continue the weekly unemployment checks but deduct that amount from the money the feds send each state. That way the people who lost their jobs through no fault of their own aren't penalized but the governors get to pay the price for their illegal actions.
A very good idea. Let's keep up the suggestions here.
I love both of these ideas. The only suggestion I'd have is to let anybody in on it, regardless of whether they're unemployed.
Honestly, I don't expect that I'll ever see a dime of my social security benefits - they'll all be taxed or eliminated by the time I get to them. And the "lockbox" has been empty and paid for by the general fund for so long that no one remembers that that's not how it's supposed to work.
So if they let me, I'd take that payment every month until my "account" was empty. I'd be much more likely to see the benefit now, rather than later. This might teach everyone some decent lessons.
And if it reduces the funding flowing to my state from the feds, it might even teach them a lesson too. (OK - I'll admit that expecting anyone to learn anything here is a reach, but it's still nice to ponder.)
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