Chained CPI - maybe what the economy needs is a real boost in actual Social Security payments

[hedgehog]

Social Security is the one method we have of ensuring many citizens benefit from increased productivity. We know we're in trouble because wages haven't kept up with productivity gains. Eliminate the cap on Social Security deductions and you keep Social Security in the black and partially resolve the damage from extreme income imbalances.

[phleshdef]

1. If we are gonna use chained CPI for anything, it should be for automatic minimum wage increases.

Basing the minimum wage on ANY kind of CPI calculation, chained or otherwise, would result in the minimum wage perpetually increasing with the cost of living. That would result in higher wages for everyone, which would result in everyone paying more money into Social Security, since the payments in are based on a percentage of our wages.

[hedgehog]

2. Absolutely!

[Bluenorthwest]

4. Oregon and other States already raise the minium wage with inflation

The Federal government and other more conservative States are as always and in all things, lagging behind us. We did not need the 'chains' just the increases. Thanks.

[FogerRox]

3. Or we could create 20 million jobs and raise the min wage

and then sit back and watch the FICA roll in.

The CBO scored shortfall over 75 years is .6% of GDP, in a 15 trillion dollar economy thats 90 billion a year.

20 million jobs at 36k each is 89.2 billion a year in FICA. Fixing SS by removing the cap is admitting the GOP is right about SS, that it needs to be fixed. Theres nothing wrong with SS that a good economy wont fix.

[bvar22]

5. INCREASING Social Security payout would be the MOST effective stimulus possible.

INCREASING any of the Safety Net payouts would be effective stimulus.

Americans who are hurting seldom store these funds away in Savings Accounts,
or stash them in Offshore bank accounts, or "invest" those funds in foreign countries.

They SPEND that money locally.