Do you think the average person over 65 has $250,000 in the bank to pay for their heart attack or cancer treatment?<quoted text>Most elderly people have more assets and cumulative wealth than the young workers who are having their income diverted from investments that could make them less dependent on future generations. Why do you assume some elderly people will die? Don't these people have family? Were people dying in the streets before we began forcibly taking the money from younger workers to pay older people? Social security incentivizes people to save less for the eventuality of old age by removing a significant portion of their income that could be used for savings for themselves and creates the expectation that the burden of old age will be borne by other people. The burden of old age should be borne by other people if someone is not able to care for himself and those other people should be first and foremost his family. Adult children should take care of their parents. Its called honoring thy Mother and Father. Today, they can get some other American to honor their Mother and Father.
I don't lose sleep over the rich accumulating more wealth. Try not to think of wealthy people as an exclusive group of individuals who hold a monopoly on getting rich. People move in out of the top 1% all the time. I am pleased to see we have more billionaires than before. It doesn't exclude other people from earning money and becoming wealthy. The entire notion of people getting rich that excludes others from doing the same is rather silly.. People get wealthy for the most part by doing things that serve and please their fellow man. People have different capacities to do that and that is reflected by the disparities in people's wealth. It simply represents a disparity in people's ability to please and serve others.
Let's look at the difference SS made in the elderly's life.
Without Social Security, 22.2 million more Americans would be poor, according to the latest available Census data (for 2012). At the beginning of SS 80% of those over 65 was listed as poor. Today due to SS only 10% of those over 65 fall into the poverty level.
Like I have posted many times. There are many nations without any form of government social services. Nations like Haiti and most nations in Africa. I know it would be a Repub dream to turn America into a third world nation but most people don't want to see that happen.