Sorry, but the additional taxes on benefits ended up in the general kitty, and were not specifically earmarked for the Social Security column of the budget. So, while you could probably make a case for a small reduction in the general deficit, it wouldn't help Social Security as such.
My first-level solution for Social Security is to discard all the convenient political illusions that have been wrapped around it. The function of Social Security, as liberals have told me endless times, is to keep those elderly who don't have enough money to retire from dropping below the poverty line.
So means-test it already. If Social Security is "old age insurance," treat it that way. There isn't an insurance program anywhere where every single person who pays a premium gets a payout. That's the whole point. "Old age insurance" is the premium payer taking out a policy against poverty. No poverty, no payout.
I think Americans could deal with this. I already pay taxes for benefits I'll never use or see.
I wonder how much better shape the Social Security program would be in financially if only those who really needed it were collecting benefits. Heck, maybe you could even cut the tax rate a bit.
Current Events » in reply to No bragging because........
Taxes
