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Notes -
I would prefer if support were separated from social security. So I'd rather see something like the EITC for seniors whose AGI is below the federal poverty line get topped up to the poverty line separately.
My ideal policy would be a defined benefit national savings program something akin to superannuation with explicit government support for anyone who has AGI from all sources below the federal poverty line. So my proposed changes are an attempt to shift to something that could eventually become that.
I prefer this as it makes support explicit and easily measurable for future decision makers, the savings in the program goes to heirs if one dies before receiving some or all of it so it's fairer to people who die earlier, and having some of the money invested in equities and internationally buffers some of the monetary effects of boom generations on asset prices.
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