Why can't I opt out of social security?

Question

I'm aware of the risks/benefits of either paying into social security or not paying into it (if we had the option) but my point is WHY can't we have the option? Why have few politicians pushed to give us such option? Let people decide how they save and invest, they shouldn't be forced into it. Don't expand it, don't privatize it either, just give average people the basic right to decide how to spend their savings.

Am I crazy here?

Answer 1

Ponzi schemes rely on new people getting in at the bottom. In this case, it's a government-legislated, legally-compulsory Ponzi scheme. Side bonus for the megalomaniacs: people without the option to say "no" are not a truly free people.

Answer 2

If it was optional, you'd probably find a lot of people didn't take it- and probably a lot of them wouldn't have adequate private savings either. And eventually, these people will probably end up in a situation where they can no longer work, and have no money to live on. Most of them would end up in poverty, and would have difficulties with basic needs like food, health, accomodation, and so forth.



Now, you might say that is their right and we shouldn't override that. However, those people will ultimately put pressure on the government and taxpayer- poverty costs the state money, especially if we end up providing welfare or emergency accomodation for them. The government would rather not have to worry about that sort of problem, so instead we have a social security system.



The government is currently following a similar system with healthcare- it might be people's choice to not have health insurance, but if those people get sick and go to the ER, that costs the government a lot of money (hospitals legally have to treat ER patients whoever they are, and if uninsured they can get payment from the government). To reduce that cost, the government is trying to expand healthcare coverage so that sort of thing doesn't happen- except in this case it has mandated everyone get private insurance, as opposed to increasing public coverage.

Answer 3

Because it's insurance, not a savings plan. You don't "opt out" of mandatory insurance.



Just like you have to carry homeowners insurance if you own a home. If you choose to work, you have to pay into Social Security Insurance.



And everyone is not required to pay, only those that have work income.



Edit: Where's the difference? If you choose to work for income, you have to pay for the insurance.



Ok, another analogy....if you are a contractor, you are required to carry bond insurance for any damages you might cause for your work. You do not get a license without it.



You can always live on investment income, then you don't have to pay into SSI.

Answer 4

Onlya small minority of Americans can legally stop paying Social Security taxes and strike their beneficiary status. In order to qualify for the IRS’s exemption, you must:



Convince them you are part of a religion that is “conscientiously opposed to accepting benefits of any private or public insurance that makes payments in the event of death, disability, old age or retirement.”



Have a ranking official of this religion authorize that you are a true believer

Prove that your religion has been established – and continually opposing insurance – since at least 1950.



So unless you are Amish, Mennonite, Anabaptist or part of another very small religious sect, odds are you’re stuck paying (and receiving) Social Security for the foreseeable future. Look around for Form 4029…you’ll have to file with the IRS if you seek Social Security exemption. Be careful what you wish for…exemption might be the swan song for your life, auto and health insurance, too.

Answer 5

The real answer is because voters are lazy and will not make SS an issue. 81% of the country thinks that the system is heading for crisis. 100% of the politicians call it structurally sound. Which candidate made SS an issue?



If you do nothing - you should expect nothing.



"Fix Social Security Now" on FB and www.FixSSNow.Org

Answer 6

If you could opt out of it, so would everyone else. And if everyone else could opt out of it, then many of them would. The result of that would be that there wouldn't be enough money going into the system to pay the current recipients.



Ponzi schemes collapse when there's not enough new money coming in to keep up the appearance of stability.

Answer 7

Some of these answers... Wow.



Government requires it. So its mandatory. It is no more simple than that. Without a mandatory requirement, it will fail in shorter time than any progressive imagined.

Answer 8

oh, the point of social Security is to tax the successful and unfortunate in order to pay benefits to a selected class that neither they nor their spouses ever paid in enough to earn.



morally, it's somewhere between theft by deception and seizure of your property.

Answer 9

Because libs are against choice unless its their choice.