What should be done to strengthen Social Security?

Question

I do pay into it everyday I go to work.....why don't you try it sometime.

Rhym, Terry....good ideas.

Answer 1

1. Return social security to what it was intended to be, a retirement income. Today there are people who receive social security benefits for many other reasons. As worthy as those reasons are, they should not be part of the social security program.

2. Remove social security from the federal budget. That means do not use social security money to finance anything else in the federal budget and to return to social security all the funds that the federal government spent on other items.

Answer 2

There were a bunch of Democrat-floated ideas out there around the time Bush was trying to dismantle it.

Wish I could remember.

There's a cap, that was last adjusted in the '70s, that, if adjusted today would take care of a lot of the problem -- raise the amount that, above it, you don't get SS payments, I THINK.

There were other, similar tweakings, again, that had previously been periodically adjusted, and are long over due for another adjustment.

It would have been enough to make it ok into the foreseeable future.

I do remember they didn't involve "privatizing" any of it, or cutting benefits to the needy.

I bet if you typed "Social Security Plans" +Democratic into your favorite search engine you'd hit them fairly easily.

When plans similar to the ones Bush was floating have been tried, they haven't done much. Actually, Bush's plans wouldn't have helped at all, nor were they designed to.

Face it, it's the biggest pile of money there is, and there are people who just can't sleep nights knowing it isn't in their pockets. They will do everything they can to take it away from us.

The "Building a Bridge to the 13th Century" crowd.

Answer 3

This should answer your question...
Franklin Roosevelt, introduced the Social
Security (FICA) Program. He promised:

1.) That participation in the Program would be
Completely voluntary,

2.) That the participants would only have to pay
1% of the first $1,400 of their annual
Incomes into the Program,

3.) That the money the participants elected to put
Into the Program would be deductible from
Their income for tax purposes each year,

4.) That the money the participants put into the
Independent "Trust Fund" rather than into the
General operating fund, and therefore, would
Only be used to fund the Social Security
Retirement Program, and no other
Government program, and,

5.) That the annuity payments to the retirees
Would never be taxed as income.

DUH!

Answer 4

make it fair,
a Chicago firefighter earns an average of about $58,000.00, he's taxed at roughly 6.8% for SS or $3944.00, Bill Gates earns $901,000.00 just in SALARY for heading Microsoft but pays $6120.00 in SS tax, but Bills SS payment is a far smaller percentage of Bill's overall income, The firefighter is paying 6.8% Gates is paying about .00018 percent of his income because of the $90,000.00 earning cap, make ALL income from money other than investment taxable at the normal 6.8 instead of just the first 90K and you've solved the problem

Answer 5

Put all SS money back, and put it in a lock box, and chop off the fingers of all who attempt to get it out. Teddy Kennedy would have to find another means of financing those tawdry weekends at Chappaquiddick.

Answer 6

Stop robbing the surplus. The program would not have any problem funding itself, if they would stop robbing the surplus.

Answer 7

Keep the politicians sticky fingers off of it.

Answer 8

Get all those politions who dontpay into it off for free and pay.

Answer 9

Scrap it altogether, since its a socialist ponzi scheme, but I wouldn't expect a neo-communist to understand that. FDR should be dug up and shot for putting it in place.

Answer 10

This only my opinion so,, I say get rid off it all together.
Most companies today offer 401(k) and other pensions, there are IRA, and annuities, to help with retirement.