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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You guys are way down in the weeds. The thing is insolvent and you're arguing about mowing the lawn while the house is on fire.[/quote]

It's not insolvent. When the trust fund runs out in 2034 or so, there will still be enough money to pay 75% of benefits forever. The trust fund was an add-on created by Ronald Reagan so he could kick the can down the road by raising taxes without cutting benefits while getting credit for being a fiscal conservative.  But we should go back to what it was before, a pay-as-you-go system, just by balancing income and outflow.  And I repeat if we DO NOTHING, there will be a 25% cut in benefits, but the system will last forever.[/quote]
Well, a 25% cut wouldn't hurt the upper income retirees! but those who depend on SS for a significant portion if their retiree income (if not all of it) would really suffer. As it is, we have people trying to get by on $1000 a month. (Even if ones house is paid off, that's quite a struggle.)[/quote]

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