Jan 4, 2019

I Thought He Was Still Interested In Becoming President

     Former Vice President Joe Biden expressed interest in means testing Social Security and Medicare  a few months ago.
     Democrats have long been opposed to means testing either. Means testing would put the programs in the widely despised category of “welfare.” There’s a reason Democrats always refer to them as “social insurance.”
     A few weeks ago some unknown jackass keyed my car for God knows what reason. My insurance company is paying for the repair. They didn’t inquire whether I could actually afford to make the repair without their help. No, I had paid my premiums so they pay for the repair. Do we want it any different for Social Security? If my insurance company was inquiring about whether I could afford to make repairs without their help, I’d feel very different about paying their premiums. That’s what  Republicans want.


Anonymous said...

I'd like to see colas capped for anyone receiving over, say $2000 per month and I spose that could be indexed for inflation with some chained index. We have to do something to save the system and no one has any positive suggestions; just attacks on constructive ideas! Sad.

If things don't change, very soon, there won't be much of a program for the litigators to pursue for their erstwhile clientele,

Anonymous said...


Going at the current rate, the trust funds are estimated to be exhausted in 2037, 18 years from now. The relevancy of estimates generated with the presumption of current economic factors continuing for nearly two decades is suspect to say the least. As to constructive ideas, your idea of capping benefits at $2,000 adjusted for inflation, would reduce the usefulness of the system, which in turn would endanger it to elimination as the popularity of social security is its greatest strength.

I can think of at least 2 ideas which would be effective. One, raise the taxable income cap for social security. Two, temporarily provide an infusion to the trust funds from the general fund as the current financial strain being experienced by the system is a result of the baby boomers retiring and the aftermath of the 2007-2008 recession and subsequent limited wage growth.

In the long run, the system has been solvent, but contemporaneous events might result in a shortfall. Although neither of the ideas I mention above are likely, given raising taxes is always difficult politically and providing a temporary solution is politically hazardous (even if the problem is also temporary), either would work. The most likely scenario, however, is Congress will at some point in the future raise the retirement age and reduce COLA.

Anonymous said...

Means testing hopefully means 1 thing - Raise the limit on FICA taxes. A slight increase of say up to 150K per year would solve a lot of problems.

Anonymous said...

Eliminate the CAP and everyone pays the same rate.

Modify the bend points so that the the highest earners get 5% for all earnings over current cap instead of the 15% that now applies

TaDa. Problems solved.

And if we really just want to make Republicans think they get something too, raise the "retirement age" but modify the benefit rate on the formula so that no one with an average benefit or lower receives less benefits even with the age increased. i.e. 95% to the first bend point and raise the bend point amount as needed.

Anonymous said...

Great more taxes and a longer retirement age. This is getting to be comical.

Anonymous said...

3:07 has it right.

Anonymous said...

If, after all the years, you do not understand the difference between an auto insurance policy and a government entitlement program, you need to stop practicing and commit yourself to full time conspiracy writing.