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Should the rich collect Social Security?
It’s a never ending debate, now fueled by Social Security’s financial woes: Should the very rich be able to collect Social Security? Advocates argue that since they pay into the system there’s no reason that they shouldn’t be entitled to benefits. Opponents argue that since they don’t need the money, they should not get Social Security benefits. And some say it would harm the system if the rich weren’t entitled benefits because they could rightfully argue that if they can’t get benefits neither should they pay into the system, resulting in Social Security losing those payroll taxes. So what is the answer? This CheatSheet article by Karen Bennett explores the attitudes of several very rich Americans towards Social Security, concluding with the question unanswered but providing enough information for you to form, or confirm, your own opinion on this controversial topic. Click here to read more.
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