Personally, I think such a system is untenable. Set the social
security payment too high and you remove the incentive to work; set
it too low such that it’s hardly enough to support oneself and you
defeat the purpose. Also, if such a system requires higher taxation
to fund, it hardly seems fair if hardworking and contributing
members of society have to subsidise the useless bums who just sit
around and wait for handouts.
