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You've heard it's going to happen --- that in 2012 or 2016 or 2038 or some other ever-shifting date the U.S. social security system will run out of money.

Yes.

The dirty little secret is that this is the Republicrat's BIG LIE.

BOTH major political parties perpetuate this lie in order to frighten senior citizens into believing that "something must be done to fix Social Security". Of course, this usually involves increasing the SS Tax to increase the amount of money in the so-called Social Security "Trust" Fund.

The "Trust" Fund is actually a slush fund that government bureacrats (at the urging of Democrats) misappropriate for other purposes, leaving behind government IOU's that must be repaid from General Revenue. GOP proposals to "reform" Social Security through "privatization" are merely a ploy to divert SS Tax revenues to brokerage firms and financial institutions so that these wheeler-dealers can get a cut of the action.

The TRUTH is that Social Security is NOT a retirement savings plan. It is also NOT a Ponzi scheme about to go broke!!! Social Security is merely a socialist income redistribution system that places a tax on working people in order to provide a "safety net" for those who are too old or unable to work. And for such a redistribution system to continue working and remain solvent in perpetuity, THERE IS ABSOLUTELY NO NECESSITY TO ACCUMULATE A BLOATED "TRUST" FUND!!!

In todays age of computerization, the only rule necessary to stabilize the Social Security system is as follows:

This month's total SS receipts = next month's total SS distributions

To maintain this equilibrium, monthly payments to eligible recipients would be variable rather than fixed. So in good economic periods, recipients checks increase as SS collections increase. In slow economic periods, recipients checks decrease with collections, but they still recieve something as a "safety net. Overall, all boats rise and fall with the same tide.

But to repeat the main point: a bloated Social Security Trust Fund is absolutely unnecessary for the system to remain solvent.

So the next time a politician tells you that Social Security is going broke, you know that you're not just listening to a liar, but also a thief!!!

In todays age of computerization, the only rule necessary to stabilize the Social Security system is as follows: This month's total SS receipts = next month's total SS distributions To maintain this equilibrium, monthly payments to eligible recipients would be variable rather than fixed. So in good economic periods, recipients checks increase as SS collections increase. In slow economic periods, recipients checks decrease with collections, but they still recieve something as a "safety net. Overall, all boats rise and fall with the same tide.

A simpler approach is to adjust the retirement age annually to preserve the same break even solvency. Younger folks may see their retirement age go up from 67 to ~75 or more over the years (and back down at times), but older workers near retirement will not see major delays beyond a few years. No big suprises at the last minute. If you are part of a boom, you will tend to be somewhat delayed compared to those who are part of a bust. Of course, this will create wide swings in the labor market, which wants booms to retire early, and vice versa.

In todays age of computerization, the only rule necessary to stabilize the Social Security system is as follows:
This month's total SS receipts = next month's total SS distributions. To maintain this equilibrium, monthly payments to eligible recipients would be variable rather than fixed.

There is a better way. Just adjust the retirement age annually to keep things solvent. Those who thought they would be retiring at age 68 plus 3 months might have to work an extra month if funds are low this year, but that is no major crisis. If the economy is doing better, then they might be able to retire a month early. Those who are retired when there are lots of young workers retire younger, those on the other side of a boom retire much older. Importing immigrant workers reduces retirement ages, etc.