All of these are well and fine - however someone has to pay for expanded benefits.
Too many people think that expanding the taxable base will pay for everything - but unfortunately it's already been documented that won't work.
Look to the European countries who have had more benefits in their social insurance programs - and see the cutbacks that are being made now - since the financing is difficult.
Yes, someone has to pay, but as has been posted here, most people are willing to pay more payroll taxes to maintain benefits (which would only require a gradual, modest increases). So let's ask them if they are willing to pay even more if it will get them higher benefits.
Europe (the richer part) has had more generous programs than the US for decades, and their economies have done just fine. Their current problems have nothing to do with their programs being too generous.
Of course they want to expand benefits. of course they don't want to pay for it. This is America, the land of something for nothing. It's where people believe our budget problems would all go away if we just eliminated waste, fraud, and abuse. People may be willing to pay for things if they see they are getting something for their money which is probably why Social Security gets the support from the public.
Every dollar in the trust fund is an IOU If debt = wealth, why even go to the trouble of a tax increase? Just increase the debt held by the public? Joe Finch
All of these are well and fine - however someone has to pay for expanded benefits.
ReplyDeleteToo many people think that expanding the taxable base will pay for everything - but unfortunately it's already been documented that won't work.
Look to the European countries who have had more benefits in their social insurance programs - and see the cutbacks that are being made now - since the financing is difficult.
Yes, someone has to pay, but as has been posted here, most people are willing to pay more payroll taxes to maintain benefits (which would only require a gradual, modest increases). So let's ask them if they are willing to pay even more if it will get them higher benefits.
ReplyDeleteEurope (the richer part) has had more generous programs than the US for decades, and their economies have done just fine. Their current problems have nothing to do with their programs being too generous.
Of course they want to expand benefits. of course they don't want to pay for it. This is America, the land of something for nothing. It's where people believe our budget problems would all go away if we just eliminated waste, fraud, and abuse. People may be willing to pay for things if they see they are getting something for their money which is probably why Social Security gets the support from the public.
ReplyDeletePoor economy=Poor benefit programs
ReplyDeleteRepublican senate and congress=Deep Do Do.
Every dollar in the trust fund is an IOU
ReplyDeleteIf debt = wealth, why even go to the trouble of a tax increase?
Just increase the debt held by the public?
Joe Finch