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A fix for social security
the middle
Member Posts: 3,089
Alot of ideas fly around on the news and in the papers but I have another idea....
Since employers are the ones who create wealth, it would not be fair to tax them anymore to "fix" SS.
Same goes with the idea that if you are "rich" you dont need SS and shouldnt get it. Thats not right either, as you payed into it your whole life and should get it.
To raise the retirement age is no good either because someone who works in a office could easily work till their 70+, but a coal miner, or someone in construction, or steel mill, or any other physical job cannot. And to raise itfor some, but not all is also unfair.
So my idea is this......
At around $106,000 both you and your employer stop paying into SS.
Why not raise the cap for just the employee??
It would not be right to raise it for both, since like I said the employer creates wealth, but the employee could still pay into it.
IF the system took in enough cash maybe the cap could be lowered for the employer.
Im not saying the cap should go sky high for the employee, but certainly higher then it is now.
Keep everything else the same (retirement age etc)and it would still pay out more for those who pay more in.
I dont like the idea of more taxes, not at all, but I hate the idea of working till Im 70 or older even worse! And I also hate the idea that, after paying into it my whole life, it will be broke just before I retire! That would really suck!!!
The idea of privateizing SS wont work,too any people are already colleting it make that work. And besides, wall street has done a real chitty job with my 401K up to this point, and NO WAY would I ever feel comfortable with them with ALL my retirement eggs!!
Of coarse, some REAL controls would need to be put onto the SS trust fund so the politicos could not use it as a grab bag like they have since the 1980's.
What are your thoughts?
Since employers are the ones who create wealth, it would not be fair to tax them anymore to "fix" SS.
Same goes with the idea that if you are "rich" you dont need SS and shouldnt get it. Thats not right either, as you payed into it your whole life and should get it.
To raise the retirement age is no good either because someone who works in a office could easily work till their 70+, but a coal miner, or someone in construction, or steel mill, or any other physical job cannot. And to raise itfor some, but not all is also unfair.
So my idea is this......
At around $106,000 both you and your employer stop paying into SS.
Why not raise the cap for just the employee??
It would not be right to raise it for both, since like I said the employer creates wealth, but the employee could still pay into it.
IF the system took in enough cash maybe the cap could be lowered for the employer.
Im not saying the cap should go sky high for the employee, but certainly higher then it is now.
Keep everything else the same (retirement age etc)and it would still pay out more for those who pay more in.
I dont like the idea of more taxes, not at all, but I hate the idea of working till Im 70 or older even worse! And I also hate the idea that, after paying into it my whole life, it will be broke just before I retire! That would really suck!!!
The idea of privateizing SS wont work,too any people are already colleting it make that work. And besides, wall street has done a real chitty job with my 401K up to this point, and NO WAY would I ever feel comfortable with them with ALL my retirement eggs!!
Of coarse, some REAL controls would need to be put onto the SS trust fund so the politicos could not use it as a grab bag like they have since the 1980's.
What are your thoughts?
Comments
better idea, Take SSI away from every scum sucking drunk or drug abuser tha applies, quit raiding (thanks dems) SS for every other liberal pet project, and leave SS money within SS.
Support for a perpetual continuation of SS. hmmm. Might want to change your user name..
Retirement is a personal responsiblity, and welfare is a local affiar not federal.
better idea, Take SSI away from every scum sucking drunk or drug abuser tha applies, quit raiding (thanks dems) SS for every other liberal pet project, and leave SS money within SS.
I think you better check your facts...Reagan raided SS to pay for the Military and tax cuts!!!