Finally someone that sees
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I think we have both now. SS is an insurance policy for poor old people, and people should save as best they can, but some do live off of SS and it really is putting something aside now for your retirement. And we have IRAs, which are tax subsidized right now.
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I hope our elected officials see the truth in that.
I would just add that it's not just for the poor. There are many middle class seniors that scrimped and saved all their lives but for one reason or another couldn't manage to put enough aside. The market has not been kind to investors the past 5 yrs either. Imagine having to depend on it if you had just retired in '99, yes, good diversification and planning would ameliorate the damage, but most people seem to have enough trouble balancing a check book let alone planning for retirement.
The old 3 legged stool analogy of preparing for retirement was the best, but corporations have decided to shorten or remove one leg and GW(& co) apparantly want to shorten another.