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Response to Texin (Original post)

Sun Dec 9, 2012, 10:39 AM

36. No need. Just change the way Social Security is funded.

The way SS is funded now is regressive. Earnings are taxed from the first dollar and capped at something like $113,000. If there's a foreseeable point at which the SS fund would actually go bankrupt, then the solutions are to increase current funding or to decrease current (or at least near-term) benefits. To date, all of the solutions have revolved around decreasing benefits. As we all know, that's because the right-wing has been fighting against FDR since WWII (and LBJ, too).

Let's talk for a moment about increasing current funding, instead. How about capping the bottom for SS contributions instead of the top? In other words, rather than have everyone pay up to to $113,000, have no one pay up to a certain amount (let's say $40,000), with SS contributions kicking in at that point and being payable on all income above that level. Every year, actuarial analysis would be performed to determine how the 'kick-in' point would have to change in order to fully fund Social Security out to the horizon that I've regularly heard bandied about--75 years into the future. Voila! Regressive tax turned into a progressive tax and Social Security is fully funded forever.

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Arrow 66 replies Author Time Post
Texin Dec 2012 OP
Jackpine Radical Dec 2012 #1
NoMoreWarNow Dec 2012 #62
avedon Dec 2012 #64
PDJane Dec 2012 #2
bluestateguy Dec 2012 #3
AnotherMcIntosh Dec 2012 #4
kimbutgar Dec 2012 #5
Texin Dec 2012 #8
democrattotheend Dec 2012 #55
DURHAM D Dec 2012 #6
newfie11 Dec 2012 #7
forestpath Dec 2012 #9
Texin Dec 2012 #13
reinan Dec 2012 #47
jeff47 Dec 2012 #49
Zorro Dec 2012 #10
anneboleyn Dec 2012 #31
PSPS Dec 2012 #11
ToxMarz Dec 2012 #12
democrattotheend Dec 2012 #25
jeff47 Dec 2012 #45
ToxMarz Dec 2012 #58
backscatter712 Dec 2012 #14
frazzled Dec 2012 #15
Warren Stupidity Dec 2012 #16
bunkerbuster1 Dec 2012 #41
brokechris Dec 2012 #17
democrattotheend Dec 2012 #26
brokechris Dec 2012 #53
democrattotheend Dec 2012 #54
brokechris Dec 2012 #57
Bluenorthwest Dec 2012 #18
Blue_In_AK Dec 2012 #19
blkmusclmachine Dec 2012 #20
marlakay Dec 2012 #21
Coyotl Dec 2012 #22
Sunlei Dec 2012 #23
coalition_unwilling Dec 2012 #24
still_one Dec 2012 #27
underthematrix Dec 2012 #28
David__77 Dec 2012 #29
njcamden_25884 Dec 2012 #30
SheilaT Dec 2012 #32
mgcgulfcoast Dec 2012 #33
madrchsod Dec 2012 #34
Capisce Dec 2012 #35
LineReply No need. Just change the way Social Security is funded.
kyungju park Dec 2012 #36
union_maid Dec 2012 #37
hrmjustin Dec 2012 #50
wishlist Dec 2012 #38
Comrade_McKenzie Dec 2012 #39
jeff47 Dec 2012 #48
bunkerbuster1 Dec 2012 #40
bunkerbuster1 Dec 2012 #42
jeaps Dec 2012 #43
SouthernDonkey Dec 2012 #44
forestpath Dec 2012 #46
PDJane Dec 2012 #51
JLII Dec 2012 #52
PDJane Dec 2012 #56
Hekate Dec 2012 #59
winstongator Dec 2012 #60
NoMoreWarNow Dec 2012 #61
hrmjustin Dec 2012 #63
Iggo Dec 2012 #65
Douglas Carpenter Dec 2012 #66
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