A 20% import tariff that goes directly to SS fund would fix the problem
One would like to think so, but it wouldn’t help.
Any excess beyond each year’s Social Security deficit would be spent immediately. This would give Congress a shot in the arm to spend even more money they don’t have and never will.
The ONLY thing that can truly save the program is to gradually transition to a public/private insurance annuity program. People should be given the choice between having their contributions and those from their employer invested on their behalf in assets that grow in value and produce income, or leave them in the 1940s relic to be spent on current beneficiaries with no guarantee of any payout .
I have my daughter enrolled in a policy with New York Life that has paid out a 5.5+% rate of return every year for 170 years. It’s essentially what Social Security would be if it wasn’t designed and run by chimpanzees.
She’s on track to having over a million dollars at age 60, just from this one investment vehicle. And at whatever age she passes away, she will leave the remainder of her accumulated dividends plus substantial death benefit to her heirs.