Easiest way to fix Social Security.

[Jackie S]

First, make all income, earned and unearned, subject to Social Security.
Second, remove the cap.

Think if Pro Athletes, movie stars, CEO’s, and others who make large incomes had to pay SS on every penny earned. How much does LeBron James make a year?

I generally have my SS paid up by mid April or May. I am willing to pay the 6.2% all year. Keep a cap on what the employer matches, just have the individuals pay all year.

[Tiny]

Are you switching political parties? Social Security is supposed to pay for retirement. You want to convert it into an out and out tax, and make LeBron James pay for your employees' retirement. You're not going to get higher earners to pay for everyone's retirement and medical expenses, because they don't have enough money to do it. Your idea sucks.

If you want to fix social security, start transitioning younger Americans to real pensions backed up by real assets, instead of continuing with the Ponzi scheme we've got now. Australia, Singapore and other countries have done this and it works.

[LexusLover]

Some people get SS confused with forms of welfare payments to poor, unemployed, and uninsured .... this "movement" in "Congress" is to cover the bills for the illegal aliens they are allowing into the country ... who are currently settling in the "sanctuary" states which cannot afford to take care of them .... ala ObamaCare!!!!! THINK: Pelosi and Schumer.

[nevergaveitathought]

although social security is not viewed by many as a welfare program, it is that and maybe a little more

there is not a contractual right to receive social security

there is no "fund" where money is held and invested

it is not a real trust fund

social security can be changed, eliminated, or adjusted

social security taxes, paid by employer and employee are fully accessible by the federal government and are nothing more than part of the government's very fungible tax collection system

social security is an intergenerational transfer of money

money, funded perhaps partially by taxes and then by federal debt (the printing of money by the fed) is sent to seniors who met certain age, and work history requirements

the ops proposal boils down merely to tax the rich some more and call that tax a social security tax

I doubt the tax being called for here would balance the federal budget, so there would still be a short fall

it would be mere semantics to then call social security fully funded any time there is a budget deficit

[bb1961]

SS is a big ponzi scheme...there never was a investment tool set up to make money on the funds paid in. With the working pool being dwarfed by the ever increasing baby boomers retiring and collecting SS. The shortfall is inevitable and the answer...increase taxes and reduce benefits. Everyone should just consider the SS monies they paid just a tax to be squandered by Gumment.

Not in my lifetime but most likely in the lifetime of the children of today...they will have a tax rate that will make anyone have nightmares over. This spending is going to be the ruin of this country...some people think we can spend our way to prosperity. It has never happen in history and this isn't any exception!!


"The fiscal cliff deal ended the 2% payroll tax holiday. Obamacare taxes on high-income households also began in 2013. That increased revenue to the Fund, and improved its cash flow shortfall. But the Tax Cuts and Jobs Act will reduce taxes again. By 2020, total costs will be higher than total income according to the 2019 Social Security Report. That will make it the first year since 1982 that Social Security contributed to the budget deficit.

The situation will only worsen with the long-term demographic changes mentioned earlier. The Trust projects that its assets will be depleted by 2035. The payroll tax income won't be enough to cover the annual benefits.

Fixing Social Security
Different proposals are being developed to restore solvency. They require either a decrease in benefits paid, an increase in taxes, or an increase in debt. Since the debt is already unsustainable, policymakers are forced to choose between a tax increase or a benefit decrease. As a result, Congress has not made any real changes to restore the solvency of the Social Security Trust Fund.


This is "kick the can down the road"...COMPLETE IRRESPONSIBILITY!!

[the_real_Barleycorn]

Originally Posted by Tiny

Are you switching political parties? Social Security is supposed to pay for retirement. You want to convert it into an out and out tax, and make LeBron James pay for your employees' retirement. You're not going to get higher earners to pay for everyone's retirement and medical expenses, because they don't have enough money to do it. Your idea sucks.

If you want to fix social security, start transitioning younger Americans to real pensions backed up by real assets, instead of continuing with the Ponzi scheme we've got now. Australia, Singapore and other countries have done this and it works.

Are you in the right party. You've just suggested what conservatives have been saying back to the days of Reagan.

[rexdutchman]

Poniz scam- no easy fix's at this point One way would be a FLAT tax 10 % or whatever for all ( the more u make the more u pay the less the less u pay )

[Tiny]

Originally Posted by the_real_Barleycorn

Are you in the right party. You've just suggested what conservatives have been saying back to the days of Reagan.

I was a Republican from high school until 2017. I may become a Republican again in 2021.

[oeb11]

Old Saying - "If you are not a liberal while young, you had no heart. if you are not a conservative when mature, You have no Brain."
you are a smart guy Tiny - i appreciate your posts.

[Tiny]

Originally Posted by oeb11

Old Saying - "If you are not a liberal while young, you had no heart. if you are not a conservative when mature, You have no Brain."
you are a smart guy Tiny - i appreciate your posts.

Thanks oeb. I have to admit I attended a few Revolutionary Communist Youth Brigade meetings in college. However, it was out of curiosity, and because Commie chicks are easy.