re: #57 Slumbering Behemoth

Some Democrats have proposed _means testing_ Social Security, which is pretty nasty! fdlaction.firedoglake.com

In fact, I think it’s just as nasty as drug testing for Unemployment Insurance.

It means that some frugal person who scrimped and saved his entire life to be able to earn, say, $75,000/year in interest (would take about $5,000,000 because interest rates are being held artificially low to prop up house prices but that’s another story) after retirement may be NO BETTER OFF than some deadbeat who never saved a penny, but gets full Social Security and Medicare payments….

It would mean there’s NO INCENTIVE to save money, unless you think you’ll be able to save about $20 Million or more to make it exceed the value of Social Security or Medicare.