Democrats on Social Security
Posted on January 30th, 2005 in General, Social Security by tavaresforby ||
Senate Democrats lashed out Friday against President Bush’s plan to add personal accounts to Social Security and accused his administration of improperly using the Social Security Administration to promote the plan.
Since the democrats are always bashing privatizing social security, why don’t they come up with a solution? I have not yet once heard a solution from democrats to fix the social security crisis.
January 30th, 2005 at 8:56 pm
SS isn’t broke. So it doesn’t need fixing. It only needs maintenance. Taxes can cover benefits until 2018. Then it can dip into its trust fund until 2042. They get these dates by using VERY conservative growth estimates, so it is likely to take longer than that before SS is in any real trouble.
January 30th, 2005 at 10:40 pm
SS is broke and here are the following reasons:
* Raise taxes
* Cut promised benefits
* Raise the retirement age
* Lower COLAs (Cost of Living Adjustments)
* Raise the annual wage cap (aka, increase tax)
* Tax social security benefits
Plus it will be in a deficit, so why not fix it now. And why are you so opposed of privatizing social security?
Also, dip into what? SS is a pay as you go system. There are no trust funds. And maintenance will not fix SS, re-structuring will.
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