Give me a detailed plan in which you would propose to solve social security. What would you do to save it? or why would you get rid of it? Give me facts though, no spinning for political purposes.
2007-12-17 05:42:26 · 15 answers · asked by Ryan M 3 in Politics & Government ➔ Government
So far only one real solid plan . . .
Come on people state a plan here. Mark the question interesting so more people can chime in. This is important.
Here is some food for thought though.
Avg person pays in roughly $6k per year in social security. Average payout is $1250 per month starting at 62.
Do the ROI on that, say you work for 35yrs.
Assuming you draw until 82 on average.
That is a Wooping 2% rate of return on our money. Better rate of return on our investment anyone?
2007-12-17 06:41:22 · update #1
To start, change the elegibility age. Raise the age of full elegibility by one month, each year, for the next five year to ten years. Then alter the new prescription plan to make it useful to seniors, instead of a new profit center for insurers, by letting the gvt bargain for cheaper prices.
Next, instead of only having FICA on the first ~$90k of your income, set it for the first $90k and anything over $150k, with no upper limit. You can consider the donut hole in the tax to be a middle tax class break, to get votes.
Add a few thousand fraud inspectors, for medical devices, long term care, any other area which is getting > 5% of the SS and Medicare and Medicaid payouts. Require death certificates to be registered by each state, so payments are stopped for dead people more efficiently.
I have no expectation that I will get back any of the money I've paid into the system. The only way to fix that, is to make Congression pensions come out of the same bucket as my SS pension, so if I lose, they lose.
2007-12-17 05:54:54 · answer #1 · answered by nowaynohow 7 · 2⤊ 0⤋
It is actually child like in its simplicity. Stop the congress from raiding the SS trust fund.
If congress put back all the money they have taken over the the last 20 years, to spend on their little pet projects, SS would be solvent forever.
Everyone laughed at Al Gore, when he kept talking about the lock box in 2000. As much as I hate to agree with him on anything, he was 100% right here.
They inact laws to prevent the private sector from stealing like they do on a regular basis.
When companies give employees a pension plan, the money goes in and cannot come out of the fund without congressional or employee approval. This stops plundering of the funds.
Congress, on the other hand, like a drug adict can justify their doing it for the common good.
So, when we are all old, broke and eating from dumpsters we can be happy to know that a congressman 30 years earlier wasted our money in a meriad of useless ways.
2007-12-17 05:51:13 · answer #2 · answered by wcowell2000 6 · 2⤊ 2⤋
This is actually a proposal from one of my classmates. I don't care if I get thumbs down for this.
I don't agree nor disagree because I have not studied the subject in depth but here is:
SS is broke and by the time I will have to collect there will be virtually nothing. The money that I'm putting into I might not see. So his idea was to "duplicate" a baby boom by legalizing illegals that can pour into the SS pot. Bringing into the system game about 12 million people will save SS funds according to his numbers.
2007-12-17 05:51:34 · answer #3 · answered by Isabelle06 4 · 0⤊ 3⤋
To truly save SSI you would need to reduce benefits especially for wealthy individuals. And you would need to start private investment funds for individuals. You would need to start at a low percentage and over aperiod of 18 to 20 years all monies should go into that fund. By retirement age the people in private funds could retire comfortably.
2007-12-17 06:41:38 · answer #4 · answered by Brandon A 5 · 0⤊ 0⤋
First I would lock it so that the Feds could not "borrow from it" Next I would replace all the money that has been "borrowed" from the account with at least a 20% interest. That would put at lest 3 trillion dollars into the SS account.
2007-12-17 05:48:22 · answer #5 · answered by Easy 4 · 2⤊ 2⤋
I personally think that the only way to save SS is to privatize it. Take it out of the Governments hands. Everyone knows the federal and state governments can't run anything efficiently.
For the CHILDREN on here who have absolutely no knowledge of what it takes to exist in this country, I say STFU!
2007-12-17 05:47:10 · answer #6 · answered by Anonymous · 0⤊ 3⤋
Who would be stupid enough to get rid of it? Get rid of all of the drug dealers, murders, rapists, child molesters in EVERY STATE'S PRISON....use that money for SS. SImple...we are taking care of criminals and losing the help for our future survival. I work hard so I can feed a child rapist a hot meal and let him watch cable (Which I can't even afford for myself) just so I will have no money to survive on in 25 yrs. SOMETHING is screwed up here.
2007-12-17 05:47:54 · answer #7 · answered by CAT 6 · 2⤊ 2⤋
Seriously, I think they should put the politicians BACK ON SS. They have their own program and do not contribute to SS, as we do. If it is good enough for us, why not them? So put them back on our system and I believe it would be resolved VERY quickly.
2007-12-17 05:55:16 · answer #8 · answered by Glenn T 3 · 3⤊ 0⤋
Start phasing it out now. I'm willing to continue paying in to keep the promises made, but not to continue something that is bound to fail.
The next (first?) courageous politician is the one that cowboys up and tells the truth--it's failed and we just can't do it anymore.
2007-12-17 06:19:20 · answer #9 · answered by RTO Trainer 6 · 0⤊ 1⤋
Return a % of money paid in and terminate the program. Too much abuse from all angles.
2007-12-17 06:32:40 · answer #10 · answered by Anonymous · 0⤊ 1⤋