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Social Security is a phenomenally successful program that represents the very best in American values and has virtually no waste, no corruption and almost no overhead.
The program does have one serious problem, however its benefits are too low. So let's increase social security benefits. Here's the article.
The Obvious Solution to Our Social Security Problem
Let people who are of retirement age and who want to continue working do so with having to pay fed income taxes on said earnings. Its a win win,. Less people drawing checks who normaly would not be paying the fed tax anyways.
The average Social Security payout for men is only about $16,000 a year, barely above the minimum wage. Payouts for women average only about $12,000 a year, barely above the poverty line.
Most of those drawing benefits earned much more during their working days. The retirement programs in most other industrialized countries pay retirees benefits in amounts far closer to what they made while working.
Until the left got a hold of it social security was never meant to be a retirement program but a "supplement" or "safety net" for those unable to save on their own.
Yes, as the idiot in trhe article states we should strive to be more like Greece and have more generous benefits. When the citizenry of a country discovers tey can vote themselves money from the public treasury it is all but over.
Until the left got a hold of it social security was never meant to be a retirement program but a "supplement" or "safety net" for those unable to save on their own.
Before "the left got a hold of it" Social Security didn't exist, and if it were up to conservatives it would be abolished, as Bush and his friends proposed.
A substantial portion of our citizens have figured out how to vote for government money. I refer to the big finance banks, huge manufacturing companies, utility stock holders, agribusiness, drug companies and the entire military supply chain.
Social Security is an insurance system designed to provide a spendable income to elderly that never made enough to save for a pension, lost their savings in a stock market or bank failure or suffered a catastrophic illness that drained their savings in favor of the overpriced medical industry. I believe SS funding and security can be restored by eliminating the false "Trust funds" that were never more than a regressive tax on lower income wages and applying the tax to all income from all sources without an upper limit. Why not? After all even billionaires can go broke. Then limit the payments to a reasonable cost of living but not enough to support luxury.
Social security is an easy fix. Tie the retirement age directly to the average life expectancy of that generation.
As long as the country is growing, then retirement ages will fall, or the money won't cease. Our problem now is that more people are getting out then are paying in. The easy fix for that is to raise the retirement age.
It is simpler to tax everyone enough to support the current level of benefits. Remove the cap on the taxable income. That will solve the problem even if it angers a couple of million plutocrats. TS
Social security is an easy fix. Tie the retirement age directly to the average life expectancy of that generation.
As long as the country is growing, then retirement ages will fall, or the money won't cease. Our problem now is that more people are getting out then are paying in. The easy fix for that is to raise the retirement age.
Tell me what employers will hire a 65+ year old worker with associated health problems? If you raise the retirement age, you have to be able to work.
It is simpler to tax everyone enough to support the current level of benefits. Remove the cap on the taxable income. That will solve the problem even if it angers a couple of million plutocrats. TS
If you do that, most of the wealthy will take a LOWER salary and the rest of their compensation in the form of dividends or benefits that are not subject to SS taxes.
This is a place I disagree with Republicans.... they love to call SS an entitlement, however, I damn well feel entitled to something I paid into all my life.... it is something that those recieving have earned
They tend to lump entitlements all together.... welfare fraud and SS are the same to them
That being said, I feel that SS should continue as it is as a supplement to retirement especially since most people are having to work far past 65 anyways to survive
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