Social Security "An Absolute Disgrace"

[toasty]

According to John McCain:

"Americans have got to understand that. Americans have got to understand that we are paying present-day retirees with the taxes paid by young workers in America today. And that's a disgrace. It's an absolute disgrace and it's got to be fixed."

McCain elaborated:

In response to a question from CNN's John Roberts, McCain said, "Let's describe it [i.e. Social Security] for what it is. They pay their taxes and right now their taxes are going to pay the retirement of present-day retirees. That's why it's broken, that's why we can fix it."

http://talkingpointsmemo.com/archives/203377.php

The question I have is this -- McCain refers to the system as "broken," which sorta implies that it worked at one time, but it doesn't work any more because of some intervening factor. The problem, though, is that this is always the way it has worked. I suppose McCain could take the position that Social Security, as designed, is fundamentally flawed -- and that's perhaps a legitimate source of discussion -- but that sure doesn't sound like what he's saying.

Is the fact that this is the way Social Security works a new revelation for McCain? Thanks what I take away from this, and that's pretty troubling. I guess when he said that economics weren't his thing, he wasn't kidding.

[88Mariner]

Re: Social Security "An Absolute Disgrace"

SS needs to end imo. It was a temporary solution that has lived long past its shelf life. And now it has become an unfortunate tool of controling the votes of old fucks. The goal of SS, to provide 'risk-free' financial security in old age is an outright fraud.

Those who wish to devote their wealth to saving the irresponsible from the consequences of their own actions should be free to do so through private charity, but to loot the savings of untold millions of innocent, responsible, hard-working young people in the name of such a goal is a monstrous injustice.