General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe only change to Soc. Sec. I'd like to see are:
1. The fed general fund should pay back the trillions of dollars it has 'borrowed' (stolen?) must be paid back into the Soc. Sec. fund. (this makes Soc. Sec. safe for decades, at least)
2. Increase the amount paid to Soc. Sec. recipients by COLA + 1%.
etherealtruth
(22,165 posts)Raise or eliminate the cap
BainsBane
(53,046 posts)TBF
(32,084 posts)To do that as they spent all the money on war-mongering.
loyalsister
(13,390 posts)from unable to work to having an impairment that interferes with life activities (in varying degrees).
Nye Bevan
(25,406 posts)What would Social Security invest the repaid funds in? Gold? Equity? Foreign currency? Commodities?
eallen
(2,954 posts)Of course, that seems to be the source of the complaint.
Nye Bevan
(25,406 posts)Social Security would be in absolutely awesome shape right now. (That would be a TRUE "lock box" . Assuming that the politicians had resisted the temptation to raid the gold, sell it and spend the money. I would love it if somebody crunched the numbers to quantify this.
eallen
(2,954 posts)The politicians would have been raked over the coals, a few years back, when gold was languishing in the $200 range. And while gold is flying high now, it's anyone's guess where it will be in ten years.
Nye Bevan
(25,406 posts)I don't see a really easy answer here.
pinto
(106,886 posts)as needed to pay current Soc. Sec. benefits.
Soc Sec FAQ's -
http://www.ssa.gov/oact/progdata/fundFAQ.html#a0=4
earthside
(6,960 posts)... if they adopted this Social Security/Medicare policy:
Lower full retirement age to 60 or 61.
Lower Medicare eligibility to 55.
Pay for this by lifting the cap on income for the FICA contribution.
Close about half of all U.S. military bases overseas.
Ten percent real cut in the military gravy train for contractors.
Institute a Tobin tax if necessary to make-up any difference.
Then -- watch as unemployment finally drops to five percent or less.
Watch as employment and income for Americans in their 30s and 40s finally begins to rise in real terms.
Watch as consumer spending finally begins to rise and working/middle class Americans begin to see some real economic advancement.
Of course, this is the opposite of what Repuglicans and probably even a majority of Democrats in Congress see as a 'responsible' course of action. But with the bulge of the baby boomers entering retirement age and yet because of the crappy economy still continuing to have to work, we are sabotaging the earning potential of almost all Americans under 50 years old.
Buddha_of_Wisdom
(373 posts)Increase the amount paid to Soc. Sec. recipients by COLA + 5%.
And remove the earnings cap to cover it.
Recursion
(56,582 posts)What sense does it make for the government to hold instruments that it can create an infinite supply of?