In the words of Daniel Bryan, "Yes! Yes! Yes!" It needs to be reformed and eventually phased out or at least make it a voluntary program. Unfortunately, there isn't any political will to address this issue because for some reason some lawmakers think its solvent and untouchable.
Social Security will spend $165 billion more than it receives and Medicare will spend $3 for every $1 it receives. Also, since the administration of Bill Clinton (perhaps earlier), the federal government has been borrowing from SS to cover other costs.
If a corporation raided the pension fund, there would be massive protests, especially by Occupy, and calls for heads on a platter!
Social Security will spend $165 billion more than it receives and Medicare will spend $3 for every $1 it receives. Also, since the administration of Bill Clinton (perhaps earlier), the federal government has been borrowing from SS to cover other costs.
If a corporation raided the pension fund, there would be massive protests, especially by Occupy, and calls for heads on a platter!
In my opinion, Social Security is one of the most beneficial and forward thinking programs our country has developed. Unfortunately our demographics have changed enough to make the system untenable.
Yes, it is need of reform...but should be maintained.
Yes, it is need of reform...but should be maintained.
The idea that we can't afford Social Security is absurd. Simply restore the taxation rates on the rich we've always had before Reagan enacted his movie star tax, and we've been undertaxed ever since. Together with that, get rid of millions of illegal aliens draining treasuries, and stop handing out visas to foreigners we don't need (and are nothing but profit boosters for big corporations). Then slice away wasteful spending, and there's plenty of money to reform Social Security. How ?
Based on the above changes:
1. Lift the $110,000/year cap.
2. Remove the rich from SS rolls. (who don't need it-unless they become poor)
3. Raise the SS benefit amount on low benefit seniors.
Based on the above changes:
1. Lift the $110,000/year cap.
2. Remove the rich from SS rolls. (who don't need it-unless they become poor)
3. Raise the SS benefit amount on low benefit seniors.
This is one of the few programs the government runs that I am for. Though they I believe have made the program insolvent over the years and it is in dire need of reform.
Though I am for privatizing a portion of it and upping the cap. I think all should pay into SSI whether you plan to take advantage of it or not. It is the least we can do for those who have spent their lives working their hands to the bone to provide for us.
Though I am for privatizing a portion of it and upping the cap. I think all should pay into SSI whether you plan to take advantage of it or not. It is the least we can do for those who have spent their lives working their hands to the bone to provide for us.
Similar threads
