Atlantis Alumni

Friday, September 14, 2007

An Expert's Easy Fix For Social Security

This is the "Island Mermaid" restaurant in Ocean Beach, another nice bay front venue. At the "Mermaid" You can watch the boats on the bay and see a sunset while enjoying your meal.

It wasn't that long ago that "The Decider," Mr. Bush, tried to destroy social security. He called it "privatization," but it would have ended the program as it currently exists.

Actually, the fix for social security is simple, according to one expert, Robert M. Ball, who was the Commissioner of the program under three presidents: Kennedy, Johnson, and Nixon. Writing in the American Association Of Retired Persons (AARP) journal in August, Mr. Ball wrote:

The current Social Security deficit of about 2 percent of payroll over the
next 75 years...can be met by three changes that are desirable in themselves and
that would bring the program into close actuarial balance: (1) gradually raise
the maximum earnings base that determines the amount of earnings taxed and
credited for benefits; (2) diversify trust fund
investments by putting part of the funds into indexed stocks; and (3)
prevent the complete elimination of the estate tax and instead freeze the estate
tax as it will be in 2009 (exempts all estates below $3.5 million, $7 million
per couple) and change it into a social security tax.

Sounds easy and relatively painless, doesn't it? That is unless you're a brain dead Republican or conservative that can't stand the idea of insuring that seniors are covered by Social Security even if it means paying for the plan through modest, progressive taxation. Hopefully, a Democratic administration will install this fix if they win the next election.


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