Social security benefits are reduced greatly for women who exit the workforce to care for their own children or grandchildren or who choose to homeschool. This should change! They should not be penalized for those years when they reach the age for social security.
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But they didn’t pay in to the fund, and got income tax credits as well.
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No one gets out of the Social Security system everything they’ve put in. Women who work most of their lives and are stay at home moms for a while should not be penalized. Moms raising their own children should be encouraged.
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in theory … you get out what you pay in … and your benefits are adjusted accordingly …
additionally, having children (and staying home to raise them) is a choice …
sorry … nay
personally, i’d like to see social security go away (and teach finances/retirement planning in high school) … and everyone plan for their own retirement … and set/control their own retirement goals, age and benefits …
i am 60+ years old … had i been putting all the money i have given to ssdi into my own retirement plan … i’d be a helluva lot better off … and would’ve retired 10 years ago!
The family (the husband-and-wife team) paid into Social Security. It is likely they filed their taxes jointly, the income that has been reported should be viewed as income produced jointly. This means that neither spouse would be considered the sole income producer. The work the stay-at-home spouse did in raising the children gave the other spouse the freedom to produce an income. That income was the production of the efforts of the husband and wife team and that is how it should be treated when they begin drawing Social Security benefits.
personally, i’d like to see social security go away (and teach finances/retirement planning in high school) … and everyone plan for their own retirement … and set/control their own retirement goals, age and benefits
i am 60+ years old … had i been putting all the money i have given to ssdi into my own retirement plan … i’d be a helluva lot better off … and would’ve retired 10 years ago!
Good for you that you had the means to put away extra money into a retirement account, not everyone has those means. Not having the means does not necessarily mean that someone was irresponsible, life happens, and there is an innumerable list of life circumstances that would preclude a person from contributing to their own retirement account.
The entire Social Security system should be torn down and rebuilt. Given the current crop of politicians I am fearful of what that monstrosity would look like, but that doesn’t mean a complete overhaul of the system is needed.
I would prefer to see the Social Security program to be overhauled to where the mandatory withholding, and employer contribution stays in place, but those monies would stay the property of the individual, and can be passed to the individual’s heirs, just like any other asset.
Unfortunately we have what we have, and Social Security is the third rail of American Politics, touching it means political death. Since this is the reality we are operating in we must figure out ways to do things better within the framework of what we have.
At the very least upon the death of their spouse the surviving spouse should not see a reduction in their monthly benefits.