The bottom line is this:
Every argument that you have used against my predictions can be used against YOUR proposals as well.
YES the programs are not sustainable.
They will NOT be cured by your suggested increase in the payroll tax percentage, either!
And, you DO support an increase in payroll taxes, so do not claim that I do and that you don’t.
Furthermore, you have said repeatedly that benefits must be reduced or revenues increased ——
A TAX INCREASE ON BENEFITS DOES BOTH!
They will NOT be cured by your suggested increase in the payroll tax percentage, either!
I am not suggesting it, but many others are. I attended a week long seminar on SS sponsored by CATO a few years ago. We had everyone from the Concord Coalition, Heritage, OMB, CBO, two senators and four congressmen, a Nobel prize winning economist, David Walker, SS Trustees, etc. and there was some discussion about raising contributions, which is not new historically. When SS was started in 1937, the contribution rate was 1% each for employer and employee. Social Security & Medicare Tax Rates
And, you DO support an increase in payroll taxes, so do not claim that I do and that you don’t.
Can you cite where I said that? I am against this Ponzi scheme. I favor personal accounts and privatization. We can't tax our way out, just postpone the inevitable. And the more we delay solving the long term problem, the more drastic and draconian the solution. I have said this repeatedly on this thread.
A TAX INCREASE ON BENEFITS DOES BOTH!
A tax increase does not solve the problem.