2005-02-25
Fixing Social Security
To fix Social Security we should do the following:
ONE:
Set up private accounts.
TWO:
Raise the retirement age by five years from 62-65 to 67-70.
THREE:
Raise the payroll tax on employees only, NOT employers. From $90k on up only the employees pay the tax.
FOUR:
Set a means test. No one with an annual income of $100,000 or total assets of $2,000,000 should get Social Security.
If we did all four of these, I think it just might solve the problem. Any more questions?
ONE:
Set up private accounts.
TWO:
Raise the retirement age by five years from 62-65 to 67-70.
THREE:
Raise the payroll tax on employees only, NOT employers. From $90k on up only the employees pay the tax.
FOUR:
Set a means test. No one with an annual income of $100,000 or total assets of $2,000,000 should get Social Security.
If we did all four of these, I think it just might solve the problem. Any more questions?
Labels: Social Security
