Current Events — HabitableZone

Current Events » in reply to re: Question - where did you come up with your $20 trillion figure

As in the estate tax...
Larry J — (archived)

any means test might well be based on one's assets. For example, if someone has a net worth of over a million dollars, it could be argued that they're rich and don't need Social Security. Of course, a million dollars isn't what it used to be, especially if a significant percentage of that amount is tied up in their home.

In fact, if they're going to means test SS, then net worth might be the only fair way to do it. Consider truly wealthy people who have little or no ordinary income but who invest heavily in tax free municipal bonds (like Ross Perot and, if I remember correctly, Teressa Kerry). As a result, they don't pay much in income tax despite being worth millions (or even billions). If you base the means test solely on post retirement income, such people would get a pass while ordinary people whose retirements are funded by 401Ks and IRAs get screwed.

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