Heres a Hot Topic - What are some of the solutions to fix Social Security - Do you agree with some of the Solutions?

2015-06-11T18:24:12-04:00

Hot Topic - Fixing Social Security - America Faces Tough Choices - Will we see this as a hot topic for the 2016 Elections?

http://www.tomasablanno.com/HOT-TOPIC-Fixing-Social-Security.c6562.htm?pk_campaign=SocialSpeaks&pk_kwd=LinkedIn&src=J3C4M

HOT TOPIC: Fixing Social Security

America faces tough choices among potential solutions proposed to address Social Security’s fiscal deficit.

Response by MSG Kirt Highberger made Jun 11 at 2015 7:20 PM

2015-06-11T19:20:56-04:00

The government (Congress) should repay with interest every dime that they ever skimmed from this fund that they DO NOT participate in.

Response by CSM David Heidke made Jun 11 at 2015 7:32 PM

2015-06-11T19:32:12-04:00

I had a shower thought this morning that if we required all workers in the US to pay into Social Security, but you had to be a citizen to collect it we could get ahead of this thing.

Then I would be all for giving amnesty so that people would work over here and bolster our tax and Social Security base to pay for the baby boomers who are retiring.

Of course, that's a cocktail napkin plan to save the world...

Response by LTC Kevin B. made Jun 11 at 2015 8:11 PM

2015-06-11T20:11:17-04:00

Lift the wage cap and index the age of eligibility to average life expectancies.

Response by Sgt Aaron Kennedy, MS made Jun 11 at 2015 8:31 PM

2015-06-11T20:31:22-04:00

1) Immediately stop collecting SS taxes.

2) State that anyone "not of working age" (16) will not be eligible to receive SS when they reach SS age.

3) Transition to a different system. Or don't.

Sometimes you have to realize that a system is not sustainable, especially when it is a "pyramid scheme" based on having more people paying in than paying out. With negative population growth, SS is going to fail.

You can't cut the end off of one end of rope and tie it to the other to make the rope longer.

Response by MAJ Robert (Bob) Petrarca made Jun 11 at 2015 9:44 PM

2015-06-11T21:44:07-04:00

Investing in the market (private accounts) is always risky and seems to be the lazy-ass answer to everything lately. If properly run and everyone appropriately taxed the system can work. Payouts also need to be proportional to what you pay in. Why an earnings cap? If you make it, you get taxed on it. If that's the case then hopefully you can only claim benefits based on the cap and not your whole salary.

Response by SPC Jan Allbright, M.Sc., R.S. made Jun 11 at 2015 10:51 PM

2015-06-11T22:51:52-04:00

Remove the cap.

Response by PO1 John Miller made Jun 11 at 2015 11:51 PM

2015-06-11T23:51:33-04:00

My question is, if social security isn't around by the time I'm old enough for it, can I sue the government for theft?

Response by SSG Trevor S. made Jun 12 at 2015 12:12 AM

2015-06-12T00:12:25-04:00

1. Stop borrowing from it for other funding.
2. Repay what has been borrowed.
These simple steps beg the question, how?
*1. Reform the other sectors of Government to keep get the budget under control.
*2. Repay the borrowed money by instating an equal tariff and duties system with imports. This will consequentially have a positive impact on employment and wages. Increased SSI contributions from people who are now working and the balance of revenue difference generated by the increase in import tariffs will help pay back into the depleted fund.

Response by SGT Robert Hawks made Jun 12 at 2015 12:49 AM

2015-06-12T00:49:09-04:00

Congress needs to stop paying Social Security to those who have not paid into the system. Congress also needs to make good on the three trillion dollars it has borrowed from the Social Security trust fund.

Response by SPC Thomas Baldwin made Jun 21 at 2015 12:59 AM

2015-06-21T00:59:06-04:00

Social security can not be fixed in the general sense. When the act was enacted it was a TEMPORARY ACT That would self devolve in a few years. In the language of the act there is a mandatory reduction of funds allowed to go into the program. Remember SS was and still is SUPPLEMENTAL income and was passes during the depression, to help retirees. Congress uses it as a control of the masses for Votes. They spend a good amount of time reallocating funds to the program to counter the statutory reduction. This is the brutal facts of the current SS system.

Response by CPT Quentin von Éfáns-Taráfdar made Jun 21 at 2015 11:39 AM

2015-06-21T11:39:42-04:00

I have just finished reading the comments on this topic. I must say that I am impressed by the eruditeness and knowledge of ALL of them: One of my degrees is in international economics and I have been saying most of these things for years. There was a study done by someone in the Austrian School of Economics that showed that if the same amount of money taken by the US government for soial security was merely put in a bank at the rates of interest current for the same working period, at retirement the contributor would have MUCH more money than he gets from SS. My solution would be abolish the whole thing after paying everyone back.

Response by Capt Richard I P. made Jun 21 at 2015 5:36 PM

2015-06-21T17:36:27-04:00

Can't be fixed. A generation got paid out without paying in, a generation will pay in without getting paid out.