LETTER: This government proposal seems mightily intrusiveHave you heard about ‘means-testing’ as an attempt to save Social Security?
By: Axel Bogdan, town of Kinnickinnic, River Falls Journal
Have you heard about ‘means-testing’ as an attempt to save Social Security?
Like so many current government ideas, ‘means-testing’ would penalize successful people who live within their means and save for later: Higher taxes today, a reduced ability to save privately for retirement due to forced Social Security contribution, and then less Social Security tomorrow.
‘Means-testing’ would inevitably be another step toward socialism and total government control of people’s financial situation.
Think about it. Big Government already ‘bailed out’ banks and car companies, took over the student-loan program, created the Consumer Financial Protection Bureau, overreached with ‘Obamacare,’ and now would go after the crown jewels: Social Security and retirement savings.
To make ‘means-testing’ work, bureaucrats would need to scrutinize a person’s complete financial situation. When that Social Security check is determined, would a nameless bureaucrat assume (or require?) you sell your investments, home, cabin, boat, RV or whatever items of value you acquired?
Which of your assets would be fair game? Didn’t the same government send you a statement every year detailing how much Social Security you will receive? If any bank made an equally unprincipled offer (‘save with us, and we decide later if you get your money back’), it would have no customers.
Who comes up with these ideas? It is obvious Big Government feels less and less accountable to the people.
To send a signal, I urge you not to support any public official who favors Social Security ‘means-testing.