SS was original set up so that each person "paid in" and those funds (paid over a lifetime) would provide a reasonable retirement.
Essentially establishing an incentive to save (which everyone still should do--but most won't)
But government started mismanaging the program, and stealing the dollars...and...well...here we are.till
It’s not an incentive to save if it’s mandated by law and enforced with violence.
The cure for most people not wanting to save is a generation of people who didn’t save. That’s why everyone resents boomers - they are a generation who didn’t save and used debt to buy assets, but still get to take your money and cut themselves checks every month.
Luckily Bitcoin (sound money) presents a natural incentive to save which fixes this problem.
Well, you asked why it was good in principle 😃
Have to agree that it's become a poster child for what's wrong with government--if you want to blame someone blame the politicians (not the boomers).
To be fair my mother didn't work but raised us before her divorce. So her ss is really small.
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