I would not call a tax increase a “fix.” For one thing, I would not trust the politicians to use the money to “fix” the problem, given that they’ve already increased taxes many times under the guise of “fixing” social security, and we still have a problem because every time they increase taxes, they also increase benefits. But beyond that, the whole concept is flawed. They promised a certain level of benefits, if you paid a certain amount of money. Increasing the taxes halfway thru your career is a breach of that promise.
Suppose you bought a diamond ring on layaway for $3000, and paid $1000 down. Six months later, you pay another $1000. At the end of a year, you show up at the jewelry store, and pay the last $1000 installment. The jeweler takes your money, then says, “I have bad news and good news. The bad news is that I lost the other $2000 you paid me. The good news is that you just need to pay me another $2000, and that problem is “fixed.” He might think so, but not me.
Only a set amount...That was changed. In a separate account...That was changed. Never to be taxed..that's changed. On and on it goes....
I don't trust a damn one of them. No, not one.