thinking about financial issues for the nation. . .
On Social Security - the system is not "broke" and can be funded as far as is necessary by raising the ceiling on the salaries from which FICA taxes are deducted. In fact, there is no reason not to raise it to whatever the ordinary members of the House and Senate are paid in lockstep with when they raise their own pay. It is more than ridiculous that they do not pay Social Security taxes on all their tax-payer salaries while the vast majority of Americans do.
If in fact we did raise the ceiling to that level, rather than RAISING the age for Social Security, we could consider LOWERING the age for full social security. Too many of those who bloviate about these issues are people who do intellectual work. I was eligible for full Social Security at 66. I could have drawn it and kept teaching, and may return to teaching next school year. But imagine a coal miner, a laborer, a construction worker, anyone who does PHYSICAL labor - why are we denying them full benefits when they are no longer able to continue to do the kind of work in which they have been employed?
And were we to lower the age for basic benefits, that might open up more opportunities for younger people to be employed.
I have some more thoughts below the squiggle.
If in fact we did raise the ceiling to that level, rather than RAISING the age for Social Security, we could consider LOWERING the age for full social security. Too many of those who bloviate about these issues are people who do intellectual work. I was eligible for full Social Security at 66. I could have drawn it and kept teaching, and may return to teaching next school year. But imagine a coal miner, a laborer, a construction worker, anyone who does PHYSICAL labor - why are we denying them full benefits when they are no longer able to continue to do the kind of work in which they have been employed?
And were we to lower the age for basic benefits, that might open up more opportunities for younger people to be employed.
I have some more thoughts below the squiggle.