#1 - Kill all us old people.
Focus social security on delivering maximum dollars to retirees, not wasting money on other tangents or excessive administration.
Do not spend social security funds on non-social security endeavors, repay all non-social security spending.
Raising taxes is not a solution because business pays half the tax as it stands now.
(3) sounds good until you realize that SS is so large that eventually the government will own (and vote) very large share blocks in most of the large companies. So... you get fascism in the aspect of government controlling the ostensibly “free” business segment of the economy.
Social Security is a giant Ponzi scheme and, like all Ponzi schemes,
One step to fix our broken Social Security system:
End it.
It also includes selling off "Federal Lands," currently used to securitize Federal debt.
How about Republicans push a new initiative as an election issue? I know for a fact the Ds won’t touch it.
Tens of millions that busted their asses for 40 years are now told by the lying professional lawyer politicians they have mismanaged or looted everything, 34 trillion in debt, open border disaster, homeless everywhere, foreign policies that rob every single America daily, foreign policies that are nothing but sabotage against the American people.
This is exactly what got after 50+ years of these lawyers turned professional politicians..
It’s way past payback and vengeance time...
Privatization is THE ONLY reasonable answer.
Lock in current benefits for any current retirees or those close to it.
Everyone else who has some money paid in gets a payout into their private account based on actuarial tables and the amount they’ve paid in.
If we have to have a one-time only money creation to accomplish this, so be it.
All future money paid in goes in to the private account.
Done.
Ha, constitutional limits went out the window 150 years ago
...it's already being executed.
Perhaps "executed" being the keyword.
No one with half a brain thinks Covid was some act of nature, that a vaccine was just developed out of nowhere (when it normally takes years of development/testing).
It is part of a diabolical plan to remove the "basket of deplorables", and hand the world over to globohomo and their brain-fornicateed puppets.
There are a number of practical problems with the proposal.
(A) At present there is now or very soon to be NO “excess” FICA revenue that could be diverted from paying current retires, because SS is now or pretty near the point of starting to NEED to cash in the IOUs the treasury gave it when “excess” FICA revenue was given over to general federal expenditures. There is no immediate remedy to that than some cobination of, (a) higher FICA taxes, (b) adjustments to SS retirement age(s), (c) adjustments to SS benefit cAlculations for newer retirees, (d) adjustments to calculation of taxable SS benefits with the taxes on SS going back into the SS fund instead of the treasury, and (f) specific new federal taxes legislatively/legally restricted to going only into the SS Fund.
Once we get past all that.
(B) There should be no federal SS “index” or investment fund of any kind. Instead the working persons FICA taxes would go into a priavte account with private investment outfits of their choice, and always be the property of the individual on behalf of whom the FICA taxes were collected. The private investment outifits would have to devise accounts that could not be collected from until the “SS retiremnent age”. The inifividual would be allowed to convert their account at retirement to an annuity, or a “money purchase” pension benefit invesment account where (a) the value in the account represents that value that could fund an income, (b) a mortality factor is determined for expected lifetime of the indivual, and (c) the type of pension account deasired (totally fixed - Bonds and treasuries, index funds, high dividend earning investments, or others suitable to the individual’c choise) and (d) from A with B and for C a monthly starting benefit amount can be determined, and may change over time as the valuation of their chosen underlying account changes.
But getting from A to B is not going to be painless, financially or politically, because the existing sums in IOUs owed to SS are just too huge.
Who cares? I mean, the illegal aliens get as much as Social Security ever spends so why are we even worried?
My ‘fix’ for Social Security is to END THE EARNINGS CAP and increase the percentage that is withheld (6.2% is too low, 10% is about right).
The fact that I currently collect SS has ABSOLUTELY NOTHING to do with it, I tell you NOTHING.
There is only one fix.
Privatize accounts as Chile did.
Include investment options.
Can be passed on to family.
We need to balance the budget of Social Security.
I know that’s easier said than done, but ultimately all the financial problems of Social Security are due to unfunded liabilities.
At one time Social Security was completely separate from the rest of the federal budget. I don’t know why or how it was changed, but now Social Security funds are commingled with all the other Federal tax receipts.
For many years social security would have been running a surplus if it were a completely separate entity. Now we’re getting to a point where Social Security will have a deficit even if it were treated as a separate business entity.
Fixing it will be politically very difficult. Fixing it based on using an Excel spreadsheet would be relatively easy. But enacting legislation to do what needs to be done is going to be damn difficult.
Remove ss numbers from deceased citizens so illegals can’t use the numbers for benefits.
There are millions of these numbers still active, and illegal.
Illegals can buy ‘still active’ ss numbers on the streets of major American cities for about 3 grand, and the democrats ALWAYS look the other way.
Getting rid of this fraud would go a long way to restoring solvency.
I’ve worked in several major cities where this type of fraud is easy and common knowledge.
Everybody who needs the numbers knows how to do it or where to go to get active numbers.
It’s not a big secret.
A few more 100 billion gifts to Ukraine should help.
I’ve no idea if any of this would work as I’m not sure what the dollar values of oil/gas/coal could be worth… just some rambling,