Wednesday, April 15, 2015

Social Security

So, Chris Christie is attacking Social Security benefits - he calls them entitlements.  I don't know if the Social Security fund is in trouble or not.  But, assuming that it is, by cutting the money that we old guys get seems cruel and heartless.

I have another idea.  Unfortunately, I am not familiar with the jargon so I will use common sense language.

Workers (and their employers) pay into the fund but only until a maximum level of income has been reached.  Let's eliminate the maximum line and have everyone pay.  And, with everyone paying, the % that would be needed to keep the fund solvent would have to be less than today's rate.  I'm not an expert in economics or finance so those people would have to provide the pertinent numbers.

Now, for the payout.  The maximum that anyone would receive would also be capped at an appropriate level with increases for all based on the cost of living.

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