Skip to main content

First, Social Security is fine. There's nothing to "save" it from, other than the greedy, cynical hands of senatoids and congresscritters who've become accustomed to scooping into the trust fund whenever they need a little extra cash, like little kids furtively digging into mom's purse.

That aside, if strengthening the solvency of the trust fund without paying back all the loot lifted from it is a priority, there are several paths open. Raise the contribution cap, raise the retirement age, means test recipients. . .

Or apply the FICA tax capital gains, dividends and the other main sources of income for wealthy Americans.

Not only are tax rates less than half for income derived from capital gains, dividends and other sources that don't involve actually going somewhere less comfortable than home and doing things you'd rather not for money, those sources are completely free of FICA taxes.

There has been some talk of narrowing the gap between income tax and cap gains tax rates, but any attempt to do so will assuredly set off a battle royale on Capitol Hill and K Street.

However, a modest nick in cap gains and dividend income to bolster Social Security might be more politically feasible in coming years, particularly if we give the 'Pubs the sound thrashing at the polls they so clearly need.

Should we not prevail in strengthening our position in Congress next month, however, developing a taste for Meow Mix might be advised.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site