The top 40 US presidents

[Catfish]

Originally Posted by tater

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My personal take is that SS should be what it was when started. VERY low tax rate (like 1%), and insurance, not "retirement." There is no right to retirement.
That said, I would also be a bit peeved to have paid in 15 grand a year for a long time, then get nothing out.

Ok, let's see. You are 45, have worked for 20+ years in one company, and lost your job. Think you'll ever get a job again ? Sure not in Germany, after 40, you're toast. Served in the army - your fault.
That leaves you with 20 meagre years to slowly die with substandard medical care.
Either you think of all possibilities that can happen and what man can do, to at least lead a decent if not rich life, or you just let the not so well-off die when they lose a job. Because this just is what you propose.

Paying all your life for a meagre retirement loan is nothing else than insurance, only that the government does it, and no greedy insurance company that might get bankrupt tomorrow.
Look at the current interests if you insured yourself privately, and what you will get out of THIS - if your private insurance company still exists at all in 10+ years. I can as well store my money in the bathroom, all interest of what 4 percent will be eaten up by inflation.

Greetings,
Catfish