solution for Social Security

@trruk1 (1028)
United States
August 2, 2010 10:16am CST
Economists and politicians have been telling us (and telling and telling us and...) for years that our Social security program is a pending disaster and that it will soon run out of money. a recent report by the Congressional budget Office says that if we lift the cap on income subject to social Security taxes, the program will remain solvent until 2083. So why don't we do that?
1 response
• United States
2 Aug 10
For the first time...Social security reported it will pay out more than it recieves. So ya..it is about to go. You know taxing poeple more is not the answer. Making our politicans give the money back is. Our politicans (on both sides) have used money meant for SS for other projects...leaving worthless IOUs in its place and never payed them back. SS has turned into a ponzi scheme...which is illegal..unless you are the feds I guess. They can break federal laws and nothing seems to happen to them. If the money all of us over the years had paid in SS had been left alone and collect interest...things would be fine. We are in this mess due to being robbed our own elected officials. So why should us Tax payers have to pay MORE into it to fix it? We did not create this problem. We were good and did what we were suppost to do and paid into it. It is our government that screwed it up...so I say THEY fix it and without taking an extra dime from us tax payers.
@trruk1 (1028)
• United States
2 Aug 10
Well, yes, they did play a huge trick on us. they decided to include Social Security in the general budget, rather than reporting it a separate entity. I don't recall exactly when they did this, but it was sometime in the 70s. Since SS had a big surplus, it made the overall deficit look smaller. It was definitely "creative accounting". But just saying blame the politicians is not a solution. This a real problem that is not going to go away, and anger at the politicians will not help. What we are talking about here is somewhere around 5% of taxpayers getting an exemption. Why? Make everybody pay the same tax and the problem is solved. It is often claimed (mostly be well-to-do people) that "poor people do not pay taxes". Of course they do. They pay sales tax, they pay gasoline tax, they pay property tax (even if you rent, part of that rent goes to pay property tax), and they pay what is, to them, a big portion of their income for Social Security and Medicare. It is, in its present form, a regressive tax, with the biggest burden falling on those who can least afford it. Just make everybody pay the same tax. I have noticed Steve Forbes and his adherents, who have long claimed we need a flat tax, never mention this one. They only talk about the income tax.
• United States
2 Aug 10
They did creative accounting but they also borrowed from SS and did not pay it back. Which was wrong. Criminal even. They borrowed to pay for other programs they wanted but could not afford at the time. ANd you know our government. They can't have money sitting around and not spend it. If the money had been left there SS would be fine. So make them pay it back. Whatever program it went to...well take it out of that programs budget and pay it back with interest to SS. Problem solved. the money never should have been pulled out in the first place. Our government needs to make it right. Yes the poor pay taxes...sales taxes are state and local taxes not federal. There are some federal taxes on gas...but most state and local taxes again.Property taxes are once again state and local taxes....not federal. They get SS and other things taken out of their checks...but at the end of the year when they file their tax returns they get most of what got taken out of their paychecks given back to them if not MORE than they paid in. So no...the poor do not really pay federal taxes or help pay for our federal government. You can hate the rich all you want...but they bankroll our federal government. It is just they don't pay as much as some of us want to have the government do everything we want them to (like social programs). So we scream unfair and demand they pay more. Why? We don't have the money to pay for the programs...they do...people want the government to do more and they want the richs money to pay for it. Isn't it great to spend other peoples money? LOL. So much better than spending your own...especially if you get them to bankroll the program but you get the benefits of the program without having to pay. IT is called something for nothing. And Nothing is ever really free...just paid for by someone else. I think a flat tax is a great idea.But not a percent. If we are "equal" in this country..then we should all be paying the same dollar amount to the federal government. But I also think our government is too big and too exspensive. Severe cut backs are needed....and I mean HUGE cuts. Then the government needs to actually only spend what they get in taxes each year. No budget deficits, no national debt. Most of us live on a budget...so should our government. Our government does not live within it's means. Which is a huge problem. they spend money they don't have. Then have to borrow from other countries or raise taxes (if not both).