In light of the possibility of the IRS being abolished I have some questions, because the subject as reignited my interest in finances. One has to do with "asset stripping" by the government. As I understand it welfare payments are not required to be repaid. However, money spent on medicaid can be recouped by the government. What I have observed personally is that medicaid is a total trap. When on medicaid your children WILL be vaccinated even if you prefer they not be. Also, if a person has assets then they must be turned over to the government, if for example, they enter long term care. I once watched a person vehemently decline what appeared to be necessary medical help because they were convinced (probably appropriately) that their income tax return money, which they needed would be taken by the government for the medicaid "covered" care they would receive. What can be done to correct this situation?
As far as payments into social security I have another question. Ideally people should be able to fund their own retirements either with pensions or perhaps for the internally motivated private savings or accounts of their own choosing. I think social security payments are a giant slush fund for the government, whereas they could have been productively used by private citizens and/or their employers for true investments. Should big banks(other than the central banks) and other tanking financial entities be upset with the government wasting social security money which was kept out of private hands were it could have been better used?