Easy Fix for Social Security

Posted by TomCat at 1:51 am Politics

Aug 032010

While the cat food commission ponders how to cut the benefits we eared through years of contributions, there remains one sure4 fix for social security.

If you believe Social Security is broken, here’s proof that it’s easy to fix:

CBO analysis shows that if all income were subject to the Social Security tax (as opposed to just the first $106,800), Social Security’s trust fund would last through 2083. Given the imprecision of 75-year economic forecasts, that should be good enough for now.

A poll conducted for USA Today by Gallup shows that 67% of Americans support lifting the cap on income subject to the Social Security tax.

Problem solved. In fact, it was so easy to solve, it’s really not much of a problem… [emphasis added]

Inserted from <Alternet>

You’ve heard this solution from me many times before. We need to keep repeating this until it takes root.

8 Responses to “Easy Fix for Social Security”

TWM says:

August 3, 2010 at 5:14 am

What we need is a senate with balls to legislate this into action.
- TomCat says:
  
  August 5, 2010 at 10:11 am
  
  Mark, I agree.
Tim says:

August 3, 2010 at 6:10 am

Ahhh is there anyone in Congress willing to say this. I’ve not heard of any. If there was one it might be Bernie Sanders. Enlighten me here.
- TomCat says:
  
  August 5, 2010 at 10:12 am
  
  I believe that Sanders has.
TOM says:

August 3, 2010 at 6:33 am

I would add; Social Security should be an insurance program, not a pension program. Not all should get a check. Means testing.
- TomCat says:
  
  August 5, 2010 at 10:13 am
  
  Tom, the reason I disagree is that unless we make it universal, means testing will soon be perverted so that only the rich get benefits.
Jerry Critter says:

August 3, 2010 at 9:20 am

As I have said before. This SS solution should be a republican wet dream. They love the idea of a flat tax. That is exactly what this proposal is. The current rate could actually be reduced also if all income was taxed.
- TomCat says:
  
  August 5, 2010 at 10:14 am
  
  Good point, Jerry!

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