Wouldn't go quite as far as extending it to all income. Removing the cap would be acceptable.
Unfortunately, this idea strips away the artificial facade of "insurance" from the program, and forces people to realize that there isn't a little pot of money with their name on it sitting in a vault in Washington, and makes it obvious that Social Security now functions exactly the same as any other welfare program, other than the pretence that it is "off budget."
A lot of people would not like that.
This is especially true since you would have to put means-testing into the program to keep it from being a naked wealth transfer mechanism.
This idea would indeed serve the function of caring for the elderly who can't afford it on their own, and probably for less overall money than we're spending now. But I don't think there's enough poor elderly to make it attractive to politicians who want to use universal wealth redistribution to gain votes.
Current Events » in reply to Thats actually a pretty good idea, IMO
I could live with that.
The whole thread (75 posts)
- Serious Insecurities concerning Social Security 'Reform'
- My plan to reform Social Security
- Thats actually a pretty good idea, IMO
- If it "over-funds" the system, just cut the tax rate. Simple. (n/t)
- The system is currently overfunded as it is
- Not if it is to become a VESTED system with assets backing liabilities.
- re: The system is currently overfunded as it is
- I could live with that.
- Thats actually a pretty good idea, IMO
- Not to mention the dark secret that people are only just realizing..
- The only true fix for SS
- More to the point
- re: No big secret.
- Tom hit the BS buzzer
- So the fix is to simply confiscate more and more money?
- Further, they always claim that it must get worse and worse
- Bartleby the Scrivener
- Does anyone else see the political weirdness here?
- Not my problem, Tom, that you have a propensity for strawman arguments and distorting positions you disagree with
- More on the Amazing Vanishing Social Security Crisis
- The DNC choice to take the position that after all the years of claiming there was a crisis, now there isn't one, will not hold up. (n/t)
- again
- correction, misread something Tom said
- More on the Amazing Vanishing Social Security Crisis
- Not my problem, Tom, that you have a propensity for strawman arguments and distorting positions you disagree with
- Tom hit the BS buzzer
- What Ed said.
- Very good points
- My plan to reform Social Security