Reply to What Would You Be Willing to Do to Save SS?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I'd like the damn thing to earn some interest somehow for starters. Right now, it's just a transfer payment from young to old.

I don't like a cap increase. Are you also going to do a payout increase? Of course not. This just proves how mathematically unsound it is. It's a pyramid scheme and at the end, the noobies are going to get screwed, b/c it won't be there for them.

Forget this uppermost brackets stuff. It isn't a welfare system and it was never meant to be. It's a retirment system.

Additionally, why is SSDI (disability) dipping into SS? Becuase everyone who collected 99 weeks of unemployment  decided the next best route was to go onto disability for (unprovable) aches and pains. The system is being abused and people need to be told to FO.

Finally, I want Obama to return the close to $1 Trillion he took from medicare to fund Obamacare. Enough of this robbing peter to pay paul for votes crap.

[/quote] This.  At what point are we going to stop robbing Peter to pay Paul?  The tax the rich mantra is getting old.[/quote]

This is all irrelevant to the question.  It's essentially an old age poverty insurance system.  Like any insurance system, it can work forever as long as the payout doesn't exceed the income.  And all that required is a calculation based on sound actuarially sound principles.  Although I am not in favor of raising the retirement age, if you don't want to raise taxes at all, then you could raise the retirement age to 80 and the system will work forever just as it did for the first 50 years of its existence.  That's unlike a pyramid scheme, because in a pyramid scheme, there is no set of assumptions that will allow it to work forever.[/quote]

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