Social Security is a Trust Fund

[DallasNE]

15. That is the date it will no longer be able to pay 100%

After that date it will be able to pay 87%. The problem is that the longer we wait for a solution the tougher the solution will be to swallow and that plays into Republican hands. Still, there is no reason to link this to either the "cliff" or the debt ceiling. There is a solution, remove the cap on how much salary is subject to SS tax, but that could backfire as companies stop paying their executives a salary and instead pay them with company stock options that are sold as capital gains akin to what Mitt Romney currently gets. The solution there is to end that practice but who has the political guts to do that. The sole purpose of these "bonus" awards is to avoid taxes, allowing CEO's to pay a lower tax rate than their secretaries. Even the Buffett Rule will not fully fix that problem -- not even close.