Give Us Liberty- Common Sense Solution for Social Security

Given current rhetoric Social Security is going broke and within a few years the government trust fund will be spent. What can we do right now to reverse this trend?

Point I.

Everybody pays the same

Eliminate the ceiling on taxable wages. As of 2008 wages earned over $102,000 are exempted from further Social Security taxation. Think about this

If a person earns $30,000 and 7.65% Social Security tax rate is deducted that amount is $2295.

If a person earns $250,000 and 7.65% is deducted that amount is $7803

( 250,000-148000)= 102000)x7.65=7803 $148000 not taxed.

The person making $30,000 pays 7.65% of what they make into Social Security 2295/30000


The person making $250,000 ends up paying 3.12% of what they make into Social Security 7803/250000=.0312


Our Social Security taxation system has it backwards. Under our income tax methods the lower income earners pay a lesser tax rate than high income earners.

Point II.

Get the Deadbeats Off the Dole

A few years back we thought we under went WELFARE REFORM. Habitual non workers were sponging off the welfare system, having babies,with no intention of self supporting their families. So our government closed down the free ride. I say closed down, actually the free ride was reduced to 2 years on welfare. Where did these people go? Over to Social Security and onto the disability roles. Even their children are "disabled" -learning disabled-- and eligible to collect a check until age 18 or age 22 if a college student. Now I ask you, just how hard is it to get a child to play dumb? Especially when the Government Man is about to write you a check.
We have documented cases of mothers with 5 children all with "learning disabilities" all drawing SS disability checks(avg. check of $1200 per child). This is nothing but a sham device to keep the government money coming in, it beats working, and who cares if they call it welfare or Social Security- it's green and free.

Point III.

Pay Out based upon need.

Currently rich and poor can draw Social Security when they reach the appointed age. People who are wealthy should be barred from being a recipient. Why? Because the purpose of Social Security is to provide for the aged who NEED financial help during their twilight years. Does it make sense to send John D Rockerfeller a social security check once a month because he paid in his portion 7.65% of $102,000 each year? I think John D. could get by without the $1800 a month he is entitled to currently. Why not fore go it for the person not as fortunate.If heaven forbid John D. experiences a reversal of fortune and is unable to eat caviar 3 times a day, or get the polo ponies groomed properly, then make the $1800 available to him.

There-three simple ideas that would go a long way to fixing the Social Security fund. It's more equitable to the citizenry in general, and it cleans up some abuse of the system. If you notice I haven't spent any Stimulus dollars to get there either. These problems are not hard to fix. What we need is a responsive government.

Steve