The wealthy don’t need Social Security
In John Stossel’s Aug. 20 commentary on the looming entitlement crisis, he mentions the Heritage Foundation’s plan to cut Social Security payments to rich people. But then he suggests that will never happen because seniors vote, and they won’t support any cuts in payments.
That position must change.
Social Security was meant to help seniors maintain the basics after they retire. It was not meant to help the wealthy and upper middle class maintain luxurious lifestyles and add to retirement accounts to be passed along to their heirs.
We need to accept the facts. Cutting payments to those who don’t need them is probably going to be a major piece of the solution and will be the easiest piece of the correction to absorb.