4 thoughts on “Forbes post, “It’s Time To Go Big On Social Security Reform””
yes, stop tinkering…eliminate the income cap on Social Security taxes now…in a few years see what the projections may be with that change…if needed, then a few minor changes ( increase the minimum age for taking SS benefits, etc) should be enough to keep SS solvent…not too complicated (of course, this should have been done a decade)…
That will never happen. The wealthy have no interest in Social Security. Nor was the fund established for the affluent. And income of just one million would need another 124k a year to pay social security.The fund would love it but the employers and employees would never stand for it.
“JUST one million”??…well, it may never happen, but it wouldn’t be that strange to have someone with an income of hundreds of thousands of dollars to pay the same percentage of their income as someone with an income of fifty thousand…
http://www.crfb.org/socialsecurityreformer/ is a web-based calculator that shows how a series of adjustments (some major, some minor) that can be taken to restore the SS fund’s financial stability. By using it, I have fund that various solutions are possible. What is lacking is the political agreement.
yes, stop tinkering…eliminate the income cap on Social Security taxes now…in a few years see what the projections may be with that change…if needed, then a few minor changes ( increase the minimum age for taking SS benefits, etc) should be enough to keep SS solvent…not too complicated (of course, this should have been done a decade)…
That will never happen. The wealthy have no interest in Social Security. Nor was the fund established for the affluent. And income of just one million would need another 124k a year to pay social security.The fund would love it but the employers and employees would never stand for it.
“JUST one million”??…well, it may never happen, but it wouldn’t be that strange to have someone with an income of hundreds of thousands of dollars to pay the same percentage of their income as someone with an income of fifty thousand…
http://www.crfb.org/socialsecurityreformer/ is a web-based calculator that shows how a series of adjustments (some major, some minor) that can be taken to restore the SS fund’s financial stability. By using it, I have fund that various solutions are possible. What is lacking is the political agreement.