General Discussion
In reply to the discussion: I am almost 50 years old. i have been paying into Social Security since days after turning 14 [View all]maui902
(108 posts)I'm against any changes to social security that would alter the basic concept of a defined benefit (vs. a defined contribution or "voucher" based program that all pay into and all benefit from. I also support the idea of raising the cap on income subject to the social security tax. But even if you had no cap, which I believe would not be doable politically in any event, I don't believe that change would raise enough additional revenue to ensure benefits in the future. So I'd be willing to discuss "changes" to the system that would help stabilize the program in the long run. While I'm generally against the proposal to gradually raise the age at which full benefits can be obtained, I would be willing to discuss ways to reduce the total cost of benefits in the long run (because I believe if we don't take small, relatively less painful measures now, we'll eventually need to take much more significant, and far more painful, measures later). For example, could we adjust the way we measure cost of living adjustments (at least slightly-understanding that small amounts of reductions over a very large base adds up to significant savings), and/or partially means test the benefits?
I just don't think we're going to resolve many of the issues we face by insisting on getting 100% of what we want. I'd rather work a deal now, while we have leverage, that preserves social security as close to Democratic ideals as possible, but is realistic about certain changes that will ensure the financial stability of the system in the long term, in exchange for significant concessions from the party that would destroy social security as we know it. While I understand the principle behind "no cuts to social security benefits," especially in response to Republican efforts to cut those benefits, I'm convinced we will need to do something to make the system financially viable in the long term (that includes but does not rely entirely on increasing taxes).