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| Social Security Reform (Re: Subtalk politics: at a glance) (101915) | |||
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Social Security Reform (Re: Subtalk politics: at a glance) |
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Posted by Andrew Kirschner on Mon Feb 27 12:50:14 2006, in response to Re: Subtalk politics: at a glance, posted by Charles G on Mon Feb 27 12:24:14 2006. Social Security "reform" - For. I don't see how anyone but an ostrich could be against some type of reform (doesn't mean you have to agree with the administrations proposal, but the numbers don't lie...)Fair enough, but the "solutions" offered by the administrations are not solutions at all, but prescriptions for much, much more debt. Even if this were overcome, it replaces the current system with something much more shaky than what we have now. The basic problem is that we're approaching the great uh-oh (isn't that cute?) in 2011, the year the first baby boomers are set to retire. At some point, there will be more coming out of the system than going into it. There are many possible solutions, most of which are fairly simple: *Raise retirement age to 70: Sucks a little for younger folks like me, but remember that our life expecancy is higher than that for earlier generations *Raise the cap on payroll deductions. Currently noone pays more than approx $89,000/year, no matter how much they make. This is not flat--it's deeply regressive. This means that someone making $400,000 per year is paying the same exact dollar ammount as someone making $4 billion. This is an absurd giveaway to the rich. I don't see why there has to be a cap to begin with. *Demand the social security trust fund get back what is owed to it. The general federal budget has owed it untold ammounts since the Vietnam era, when it borowed from the fund to mask the costs of the war. |
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