Quote:
Originally Posted by Plinker
Is social security not on a similar track of insolvency? Politicians have refused to address the impending deficiency which is estimated to occur in around ten years. The topic of a long term fix has always been considered the third rail and is the reason our “leaders” have refused to address the issue. Reducing benefits would result in their political demise.
There are solutions to strengthening SS for decades to come which include increasing the amount of wages subject to the SS tax, expanding the types of compensation subject to the SS tax and increasing the SS tax rate. None of these choices are going to be popular but kicking the can down the road is a recipe for disaster.
I will leave you with a quote from Mark Twain: “Politicians and diapers must be changed often, and for the same reason”.
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A good informative post. Also, many IMPORTANT problems are being ignored right now, which will catch up with us in the future.