THE MODERN UTOPIAN

SECURITY FOR ALL

FIRST STEP: Eliminate the cap on social security taxes.  All "net adjusted gross income" becomes subject to the tax.   Establish a minimum and a maximum payout schedule, based on all non-retirement/savings funds available to the recipient (from current emplyment).

 

Save social security? Easy:
Eliminate the cap on tax payments.

Social security does not contribute to the debt and can be fixed by eliminating the cap on paying into it and setting a minimum

and maximum pay out based no need.

Social Security has a 2.5 trillion dollar surplus invested in US Treasury bonds.. 

Don't be fooled by those who want to privatize it.  

Easy enough to increase the funds to ensure permanent funding: 

    Stop letting the "rich" off the hook with a cap of $110, 000. on contributions.  Have you ever heard of such an unthinkable idea? ...except for the rich, of course... so now we know where welfare really exists - for the upper 5% in this country.)  All personal income needs to be taxed.

 

PRIVATIZATION?  

 It took me 40 years to give up on Wall Street.  

There was a crash in the late 60s that wiped out 1/2

my IRA.  I thought that was just a glitch. 

More "wipe out" came along in the early 90s,

then there was the dot.com crash, and

by the end of the most recent one  (2008 - which   wiped out more than 50% of my investments), 

I said  "I'm too old for this shit".
People who want to privatize social security don't have a clue, and are still believers in the investment advisors myths. (I was there once -but never again!)
  

 

How lucky we are to now have The National Priorities Project (nationalpriorities.org).

They make clear how federal tax money is spent.
Although I understand why we got it, the "payroll tax holiday" is a poor solution to our unemployment problem. Reducing social security tax income and, as a result, using other taxes to pay for social security is no solution.  Infusing money into the system by giving workers 2% more dollars to spent does not provide enough additional jobs.
Instead of a tax holiday, the money would have been better spent providing jobs - needed federal & state projects
for infrastructure, education, alternative energy, etc. (as well as job training where and when necessary).

Here is what I understood in a message from NPP: "... the U.S. Treasury still owes the Social Security trust fund around $2.6 trillion-- a huge amount of money. It's not clear how exactly that will be paid back. My understanding is that the $100 billion of general funds used to pay for Social Security in 2011 did not count against the total amount owed to Social Security (i.e. it did not reduce the total amount still owed to Social Security by the Treasury)."

We must be clear that Social Security income and expenses are totally separate and should not be included as part of the income tax percentages cited in graphs. This should also be true of Medicare funding, even though it has not been adequately self- funded. (When separated, we learn that the overwhelming use of our tax dollars support the "military-industrial" complex, most of which is totally unnecessary for "national defense.)

Time to reorganize the Pentagon and eliminate most large private military contractors. Take social security and medicare income and expenses out of the federal budget equation. Let's make sure the Pentagon -military - non-veteran - related budget is under 20%

of the balance.

 

  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
"Most people don't know that there is a huge loophole in the Social Security tax. Believe it or not, after $107K ($106,800.) income you don't pay the Social Security tax at all. This loophole is called the "cap." The "cap" loophole is bigger than the loopholes that let big corporations get out of paying their taxes because while not all corporations avoid taxes the "cap" applies to everyone making over $107K. Closing this loophole would fix all of Social Security's so-called "problems." - Dave Johnson in Campaign for America's Future (OurFuture.org)
"Most people don't know that there is a huge loophole in the Social Security tax.  Believe it or not, after $107K ($106,800.) income you don't pay the Social Security tax at all.  This loophole is called the "cap."   The "cap" loophole is bigger than the loopholes that let big corporations get out of paying their taxes because while not all corporations avoid taxes the "cap" applies to everyone making over $107K.                                                      Closing this loophole would fix all of Social Security's so-called "problems."       -  Dave Johnson in Campaign for America's Future (OurFuture.org)