Yes, the younger generation should be taxed for social security as the idea of the program is that as people age, they too will benefit from social security. Likewise, if a young person were to become permanently disabled, that person would benefit from social security as well. So there is not a reason not to tax the younger generation for social security.
Yes I think younger people shoud be taxed Social Security because if they work then they have to pay tax. Also the earlier they start paying taxes more return they would get when they retire. Also paying taxes has other benifits such as building up credit which they can use it in many ways such as business loan or a even car or education loan.
Currently we expect to have SS hit a wal in 2037, yet we do not cut it because those currently on SS expect it. Yet there is a current generation that is paying into it and being told "it wont be around when you need it."
Is the answer to SS really expectation management... Hey if we tell the next Gen that they wont get it now then they wont be pissed that they payed into it for 30 years and got nothing out!! I mean we told them that was what would happen.
Dismantle SS, Give everyone a piece of the pie based on how much they have contributed. If Joe worked for 30 years and contributed 50K and Bob worked for 5 years and contributed 5K... Give Joe 10x what you give Bob.
I would gladly take 1 cents on the dollar today then pay into it for 10 more years and see nothing!
Social Security will likely not be solvent for young workers by the time they get to retirement age. Using education about retirement at a younger age and allowing younger workers to opt out will allow for greater retirement incomes for all. Not to mention the fact that voluntary programs work better.
All I hear as a young professional is that social security will be disbanded in 2033. I will be eligible (per current stipulations) for social security in the year 2057. If I am forced to give my money to the older generation with zero money back then how will I retire? The answer is that I will not. The entire program is a scam in which either the older or younger generations get scammed. I am obviously biased and would prefer to have the responsibility of saving for my own future rather than sending a portion of my paycheck to others.
I know the older generation will say that is unfair, but it is also unfair to say the younger generation should pay and get nothing back. Either way is wrong, but I need to look out for my own family first and would prefer to make sure we are provided for.
All this is pointless though: Politicians will never cut social security until we are completely over our head in debt (potentially 2033) and that generation gets screwed over....Yay me!
Social security is a program you pay into with the expectation of receiving the benefits later in life. Given that social security will likely not be around, and will definitely will not give the same payout as previous generations, younger people should not have to pay. It's robbery. Especially when you consider that Social Security is almost 2/3 of tax for lower income workers (everyone these days). It's robbing the young for the old, and it isn't fair.