Social Security: Don't "Save" It; Raise It!

Discussion in 'Politics' started by georgephillip, Jun 22, 2011.

  1. georgephillip
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    georgephillip Gold Member Supporting Member

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    "But we can"t afford it."

    With a federal tax rate of nearly 15% of US GDP, some of us can more than afford to provide seniors with more than $10,000 a year to live on. Unless you're expecting Congress to manufacture a new IRA that grows hair, the best option to elevate the 39% of the average workers preretirement earnings that Social Security currently pays is to "find an additional 5 percent of taxable payroll, or find the money elsewhere."

    Lifting the cap on payroll taxes without raising benefits to those above it provides an additional 2.32%

    "Dedicating revenues from the estate tax at its 2009 levels to Social Security gets another half percent. A few other tweaks, like covering new public employees, add another 0.42 percent.

    "The remainder can be found by raising the payroll tax by roughly 1 percentage point for both employees and employers..."

    "Retirees today are shortchanged on Social Security because they have been shortchanged on wages for their entire working lives.

    "The labor economist Richard B. Freeman points out that the hourly earnings of workers dropped by 8 percent from 1973 to 2005 while productivity shot up 55 percent or more.

    "The United States is one of the few developed countries where workers are routinely cheated of a share in higher productivity.

    "And where has the money from the extra productivity gone? ItÂ’s gone right to the top, to the top few percent.

    "If wages had been paid fairly based on productivity, there would have been enough money subject to the payroll tax to avoid even a modest shortfall."

    http://www.nytimes.com/2011/06/20/opinion/20geoghegan.html?hp
     
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  2. Anachronism
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    It's not a matter of whether we CAN or CAN'T afford it, George. For some of us it's a matter that we don't WANT to have anything to do with it.

    I would suggest that probably 20% of the current SS payers would OPT OUT immediately if given the option to not pay anything in and not get anything out. I know I would and a large number of others I know would.

    Now, with that option, I'd be more than happy to see another option that would let people like you pay MORE than they are required to as well.

    How does that sound to you?
     
  3. georgephillip
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    georgephillip Gold Member Supporting Member

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    It sounds a lot like my grandmother.

    She was so far to the Right that when FDR made SS mandatory, she didn't sign up.
    Fast-forward four decades to the time she was no longer able to work.
    She literally died from shame when the family discovered her decision.

    If you think you don't need government, I hope you're better at financial planning than my grandmother was.
     
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  4. editec
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    editec Mr. Forgot-it-All

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    The breakdown of the social contract within this type of capitalism we currently practice is that the workers are not getting a healthy share of the wealth that they produce.

    As capital;ism demands a healthy split between consuming and creating wealth, this imbalance is leading us to the economy malaise we are experiencing today.

    And this trend has encouraged by a wide variety of policies in taxation, and trade, and labor relations passed by BOTH PARTIES in the USA in the last 40 years or so.

    There is no magic bullet to solve this problem, folks.

    There are multiple areas in our social contrct that we need to fix, but far as I can tell, we lack the foresight to make the hard political decisions we'd need to make to solve this problem.
     
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  5. Zander
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    Zander Platinum Member

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    The solution is personal responsibility. Stop relying on government solutions to personal problems. It's not radical, we've survived as a species for thousands of years, we'll continue to survive, even without Social Security. Stop being whiny bitches and blaming others for your own failures. Own your own life. You already won the "birth" lottery just by being born in this country. If you can't make something of it, buy a mirror and blame that person. That's who let you down.
     
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  6. LordBrownTrout
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    LordBrownTrout Gold Member

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    Everyone should be given an opt in or out choice for SS.
     
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  7. Anachronism
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    I have no great interest in surviving beyond my useful years if I can't afford to deal with my own finances. To that end, I have put aside 1 round of 230 grain jacketed hollowpoint ammunition in .45ACP with my initials engraved on the casing. THAT is my plan.
     
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  8. DiamondDave
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    DiamondDave Army Vet

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    Another idiot 'author' who likes to spout off the 'fairly' bullshit... and the king idiot georgephillip amorously following like an ignorant puppy

    Why am I not surprised??
     
  9. DiamondDave
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    DiamondDave Army Vet

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    If it were so great, why the fuck is it mandatory??.. people would be FLOCKING to it by choice
     
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  10. Anachronism
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    Exactly. We should change the system to make it very clear that SS and Medicare are OPTIONS, and see who stays IN and who opts OUT. I think you'd find those programs bankrupt in about 2 years if they did that.
     

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