Social Security: A Rorschach Test for the Nation?

Of all the topics that can get people riled up in online discussions, few hit so deep a nerve as Social Security. The most recent torrent of comments follow stories about politicians' recommendations to fix Social Security, and AARP's nuanced dance on its position about potential changes to the program. Let's just say there's an incredible variety of ways to view our Social Security system.

You'll see what I mean when I ask you to think about your own point of view and choose from the options below to complete the following sentence.

Social Security is ...

• a lifeline to impoverished seniors, who desperately need the income.

• a large part of our nation's deficit problem.

• our obligation to take care of the people who raised us when they're most in need. We'll be taken care of similarly when it's our turn.

• a Ponzi scheme, giving money to senior citizens and taking money away from younger workers who have little chance of ever receiving any benefits.

• welfare for seniors.

• not welfare. Seniors paid into the system for all their working careers; they deserve the benefits because they paid for them.

• a wasteful system that provides millions of dollars to wealthy seniors who don't need the money nearly as much as struggling young families.

• desperately needed by families who rely on Social Security's survivor and disability benefits to deal with events beyond their control.

• a bad deal. You could invest the FICA taxes yourself and create more wealth that way.

• a good deal. It provides retirement income security you couldn't buy on your own.

• an example of mismanagement by politicians who collected FICA taxes from workers for years and squandered the money on wasteful government programs.

• the foundation of millions of Americans' retirement security.

• socialism.

• a necessary program if we want a civilized society.

These views represent the variety of experiences and viewpoints that exist in our democracy. How willing are we to support people less fortunate than ourselves? Even if we think that their situation is "their fault"? Is it important to take care of a vulnerable segment of our society? What if that support comes at the expense of fostering the next generation - the future of our nation?

Tell me, what's your point of view regarding Social Security?

More on MoneyWatch:

• AARP Takes Brave Stance on Social Security
• 3 Big Myths About Social Security
• Is Social Security a Ponzi Scheme?

Steve Vernon

View all articles by Steve Vernon on CBS MoneyWatch»
Steve Vernon helped large employers design and manage their retirement programs for more than 35 years as a consulting actuary. Now he's a research scholar for the Stanford Center on Longevity, where he helps collect, direct and disseminate research that will improve the financial security of seniors. He's also president of Rest-of-Life Communications, delivers retirement planning workshops and authored Retirement Game-Changers: Strategies for a Healthy, Financially Secure and Fulfilling Long Life and Money for Life: Turn Your IRA and 401(k) Into a Lifetime Retirement Paycheck.

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