Slowly Remove Social Security? One millionaire’s view - AMAC & Yahoo Finance

It’s such an out of the mainstream view, but Vince Cariaga writes about the interesting view of Social Security by self-made millionaire Tom Bilyeu, co-founder of Quest Nutrition and CEO of Impact Theory. Bilyeu believes the U.S. should “slowly remove” the retirement benefits program so Americans will have more kids — and those kids can then take on the financial responsibility of caring for their elderly parents. He concedes the public will hate the concept but states on X, “If you want to increase the birth rate in a developed, educated nation, make sure housing is affordable, ensure there’s a stable store of wealth, and (here’s the part you’ll hate), slowly remove Social Security.” Full article here.

As an example of the leading thoughts on reforming Social Security, the Association of Mature American Citizens (AMAC, Inc.) believes Social Security must be preserved and modernized.  This can be achieved without tax increases by slight modifications to cost of living adjustments and payments to high income beneficiaries plus gradually increasing the full (but not early) retirement age.  AMAC Action, AMAC’s advocacy arm, supports an increase in the threshold where benefits are taxed and then indexing for inflation, and calls for eliminating the reduction in people’s benefits for those choosing to work before full retirement age.  AMAC is resolute in its mission that Social Security be preserved for current and successive generations and has gotten the attention of lawmakers in D.C., meeting with many congressional offices and staff over the past decade. 

Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or

What's Your Opinion?

We welcome your comments. Join the discussion and let your voice be heard. All fields are required

Website by Geiger Computers