Which means they'll have to draw from general funds, or maybe get some of those bonds back that they used when SS was posting surpluses and was used to cover general operations. What we need to do is make the rich pay their fair share, period.What all rational, sensible people want is for Social Security to be placed on a sound fiscal footing so that it will be there for decades to come. Again, the Social Security Administration itself has admitted that by 2035--in just 11 years--SS revenue will only cover 75% of SS benefits. ELEVEN YEARS.
We can make the system solvent for the long term by recognizing that we have overpromised on benefits, by reducing the benefits by about 25%, by imposing a means test for receiving benefits, and by removing the cap on income subject to the SS tax.
Fuck off and die, people will never go for that. But I think Republicans should make that their campaign slogan. "We're cutting your social security, granny!" Please, please, please fucking do it.
Good, because that would be stupid for a whole host of reasons.These steps would preserve 75% of the current benefit levels, adjusted for inflation, and would make the system solvent for the long term. And notice that none of these reforms involves allowing any SS taxes to go into any kind of private investment accounts.