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View Diary: Reid: Social Security cuts for defense sequester relief would be a 'stupid trade' (255 comments)

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  •  the argument is to EXPAND social security for ALL (13+ / 0-)

    There's a lot of elderly seniors who need more assistance... social security does a great job of keeping them our of poverty, but only just.

    Lifting the cap on social security sounds all warm and fuzzy, but a better option would be to do that AND increase the RATE of social security by 20%, and increase everybody's payout by 20%.

    Folks in the top 10% would not like lifting the cap, because it would be a 6% tax increase across the board. But, what if they got a really cushy and very stable fall back retirement plan in exchange? That wouldn't be too bad, provided there was some transparency and control there. Like once they have over a specific amount, they could invest half the excess in the mutual fund of their choice. Kind of like a 401k, just cheaper.

    Social Security Plus... I believe Sherod Brown floated something like this a while ago. Of course, pension funds and money managers would go NUTS because their con game would be exposed.

    •  Thank you (3+ / 0-)
      Recommended by:
      duhban, HiKa, Cedwyn

      1. For taking my question seriously
      2. Offering a detailed alternative. I have struggled with this question as I have questioned what if anything can be done going into future budget negotiations.
      3. It may appeal to the GOP and their love of "freedom" given to the wealthier elderly who could invest their own assets.

      It's the Central Limit Theorem, Stupid!

      by smartdemmg on Thu Oct 17, 2013 at 04:30:35 PM PDT

      [ Parent ]

    •  I don't agree with increasing the SS tax, if (1+ / 0-)
      Recommended by:
      tardis10

      that's what you're saying.  I don't think people at the bottom end of the income scale can afford to have more taken out.  

      Nor do I agree with the idea of increasing everyone's payout by 20%.  I believe the bottom end needs some significant increases, but not necessarily the top end.  I'd like to see the minimum SS payment go up significantly, with smaller increases as you go up.  

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