The Benefits part of Social Security IS solvent expert’s say up to 2032….
The Disability part is seen to be solvent until 2100…..Link….
Lawmakers in Congress have been afraid to touch the system….
The subject of cuts in Benefits or?….
Increased Tax payments brings OUT Voters….
(Even higher income people)
Remember…
Despite what some politicians may say?
The money IS paid every payday with the expectation that it WILL there when retires expect their money BACK….
Any talk about CUTS in Benefits, Or?…Increased Taxes?…. is gonna be a VERY HEAVY POLITICAL LIFT….
This summer, Sen. Bernie Moreno (R-Ohio) joined Sen. Elizabeth Warren (D-Massachusetts) in proposing to raise the payroll tax cap so people with higher incomes pay more into the program. Now the idea is emerging as an acceptable fix among other GOP lawmakers,including Rep. Tom Cole, the influential chair of the House Appropriations Committee.
“We’ve got too many people who say, ‘Well, we have to stay within the current income level or stay at the current tax rate,’” Cole (Oklahoma) said in an interview. “I’m willing to look at the tax rate. I am willing to raise the amount of income through tax.”
The rare GOP concessions on taxes come as lawmakers begin to confront a Social Security shortfall so large and so imminent that the party’s traditional demand for curtailing benefits is unlikely to suffice. In just six years, millions of Social Security recipients will absorb a 22 percent cut in benefits unless lawmakers provide an immediateinfusion of nearly $500 billion.
“Twenty or thirty years ago,” when the shortfall was far in the future, “you could come up with a straight-faced solution” that solved the problem entirely by cutting future benefits, said Charles Blahous, a senior research strategist at George Mason University’s Mercatus Center who served from 2010 to 2015 as the Republican public trustee for Social Security.
Now the problem is so big and urgent, Blahous said, “I don’t think you can look at it with a straight face and not do all of the above.”
Grover Norquist, founder of Americans for Tax Reform and the longtime enforcer of Republican anti-tax orthodoxy, dismissed the crack in party discipline, arguing that Republicans should stick to demanding spending cuts. Otherwise, he said, they risk infuriating voters already angry about the high cost of living…..
“Common sense”
Also says you need to raise the ridiculously low limit on which SS taxes are deducted .
The poor wealthy are going to have to pay a little more
Boo boo….
Increasing ANY Federal tax is popular?
Especially NOW with the economy going in the toilet?
Yea?
Real BRAVE for Law makers??????
Good Republican answer James!
You shout let your inner Republican self out more often!
Soooooo?
You THINK running on RAISING Social Security TAXES would get ya elected?
For REAL❓
SOooooo
You think running on cutting Social Security recipients checks by an average of $400 a month will get you reelected ?
Uh for REAL?
You need to let your inner Republican self out more often James!Its really who you are…pity the millionaires and billionaires!
I’m sticking to my story
I do NOT SEE any Congress moving on this ANYTIME Soon…..
I think the hope and prayer will be a Stronger Economy with More workers will result in increased tax revenue for the funds
The politics of a tax increase NOW are prohibitive