I wish people would stop talking about Social Security and some sort of “reserve cache” it has like it is something tangible. There is an excess still (for now) of intake vs. payouts, but whatever excesses were logged in prior years were doled out to the government to use, leaving IOUs in its wake.
Here’s how you fix it, but good luck. The last guy who tried it, got set up and run out of Congress. They want to CONTROL THE MONEY!
http://spectator.org/articles/36775/mccotter-trailblazes-social-security-prosperity
NRO is rolling out the carpet to the GOPe backup squad. Yesterday Walker was given op ed on healthcare. Today Rubio on SS. Both prominently promoted amongst the dozens of hit pieces on Trump.
“Greatest Generation.” In less than two decades, they survived economic catastrophe
By ENSLAVING future generations in an unsurmountable perpetual debt that can NEVER BE PAID, but the Interest Payments will be made by the peasant serf’s to the Moneychangers.
Any, ANY, SS reform has to figure out a way to sort out those do hard physical work their whole life, from those that sit their fat ass on a chair all day!
The people that work all their life are wore out by the time they get to 65, if they even make it that long.
I’ve been paying into Social Security for 45 years. I’ll be 62 next year. Have never collected a dime of govt. money including unemployment, food stamps or whatever else people are getting these days. I’m not a wealthy man but i have always worked to provide for my family. Lost my wife last year to cancer and i’m not feeling so good myself. I love this country and am proud to never have been a burden to her.
Go Cruz!
Ending the twin bottomless pits of Social Security and Medicare is necessary. The only question is how to do so while minimizing the harm to their current beneficiaries.
That the US congress will no longer have an effectively more-than-doubled income tax, with the end of FICA, is not a problem. The federal government will simply have to reduce its size to meet its budget.
The way to begin the process is to continue with the payment portion of the scams. That is, congress figured that if it could just meet the month to month payments to beneficiaries, then the systems were “solvent”, and congress could spend all the money that was *supposed* to be saved to pay for them.
Oddly enough, this theft works in the short term, so should be continued until there are no longer any people left who were promised their SS and Medicare benefits.
And the FICA taxes will continue, for those who *would* have been new enrollees, except that money will no longer go to the government, but to *untaxable* private retirement and health care accounts.
So, with no new enrollees, both SS and Medicare will eventually end. Yet those people receiving SS and Medicare benefits will continue to do so until they die.
The next part of the deal is for those who are still working. If half or more of their career to retirement has elapsed, they still get their benefits. If they are not at the halfway point to retirement, their FICA goes to their retirement and health care, of not just the current year, but an additional year equivalent in reduced income taxes, until they are “zeroed out”, everything they paid before going into their personal accounts.
The final part of the deal is for those beneficiaries who still have income or considerable wealth. They are offered a choice to either continue to get their benefits, as such, or to get somewhat *better* in the equivalent of income tax and capital gains taxes cuts. Completely their choice, depending on their situation.
For every one that shuns their benefits as unneeded, more money is kept in the system for those who truly need.
The bottom line is that the federal government is punished the most for its lying and duplicity, so must be substantially reduced in its size, scale, and power.
If nothing is done about both issues, all the other reforms won't save SS.
Rubio will for sure pass all other Republican candidates now. No one really wants to fix this mess.
You start the cap at $250,000 and index it at the government stated inflation rate of 2% while true inflation is at 5%. Eventually the cap applies to everyone. Same dynamic applies to the SS benefits. Also, currently, as your income below $250,000 goes up, the relative benefits gets less. It is just an additional way to apply the same dynamic to reduce payouts.
Rubberio cooked his goose when he schemed with Schumer against the citizens.
He still thinks we must abandon the rule of law and surrender the country to fraudulently documented foreigners.
Put everyone on same “retirement” schedule. No railroad retirement, no government retirement, and especially NO PENSION FOR CONGRESS OR PRESIDENT. Everyone goes on FICA. Lois Lerner does not get $150k for the rest of her life.
Stop letting disability be a drain. Never allow anyone who has not paid anything in (illegals, cough-cough) be allowed to draw.
I paid in all of these years (almost 50 and many at the max amount) and I do not believe I should lose my “forced retirement” money. If it is a tax, then everyone pays. If it is my retirement, then it is mine. If I make too much, too bad. I have family that I can choose to give this money to, not government choice, if I make too much.
Rubio’s plan hit bottom with me when he wants to take it away. Not his choice.