[Toddsterpatriot]

The fact that so many people have been hoodwinked into thinking SS is at risk of not being able to pay is frightening to me. Apparently, people who hadn't even given the issue a second thought, were sucked in after hearing (for the umpteeth time) in the establishment press that "more people believe in flying saucers than believe SS will be there for them." There is more reason to believe the dollar and all investments in dollars will become worthless (all while the US government finds some way to honor a commitment to pensioners in whatever new system comes in) than to believe the monetary system doesn't collapse but SS does.

Well, if you believe that the surplus is sitting in a lockbox until you retire, then you'll be better off waiting for the UFO's to fund your retirement. You must not know the true demographic disaster we're heading for.

You say we need to reduce benefits and raise taxes and make the system needs based. How much would we need to raise taxes and cut benefits to make the system balance? Why not just raise taxes to 100% and let the government take care of all of our needs? It's naive to think the private sector can take care of our needs, isn't it?

[Deuce]

Well, if you believe that the surplus is sitting in a lockbox until you retire, then you'll be better off waiting for the UFO's to fund your retirement.

I know EXACTLY what is sitting in the lockbox: un-backed, unspecified, but interest bearing IOUs from the general fund. The current paper/electronic fiat dollar that underlies our entire economy is the scary thing. (not any particular program like SS, as you seem to think.)

You say we need to reduce benefits and raise taxes and make the system needs based. How much would we need to raise taxes and cut benefits to make the system balance?

1. For every dollar a person earns in income from any source above, say $20,000 they lose 20 cents on their SS. Therefore, someone who earns 20,000 keeps entire SS benefit; someone who earns $40,000 loses $4,000 of benefits or some such schedule.

2. As longevity increases, raise the retirement age to 68, 69, 70, 71 etc.

3. Raise taxes if necessary beyond this and/or make bigger changes in 1 & 2 above.