Reply #56: LOL2

[nancyharris]

<”80K contributor doesn't get 4 times the SS benefit.”>

That is also patently unfair. As long as Social Security is a federal insurance program (and not a federal charity) output should be commiserate with input – as all forms of insurance are. Unfortunately, this particular insurance program is governed by politicians who curry favor with retirees for their votes by raising benefits without raising income.

Social Security is a pyramid scheme that works, as long as the base of the pyramid continues to expand to provide funds for those farther up the pyramid. Once the “baby boomer” generation swells the ranks of retirees starting in 2007 the base will no longer expand fast enough to pay for their retirement benefits. Unless something is done soon the only alternative will be to either decrease the benefits or raise the Social Security tax.

There are simply no Democrat or Republican politicians that would ever support raising either the cap or the level of taxes. It would be political suicide.

Don’t forget, every dollar you pay into Social Security is matched by your employer. When you raise the cap or raise the social security tax you are also raising it on the employer – which includes millions of small businesses.

Facts Indeed!