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Are we asking younger generations to pay MORE than their fair share for Social Security and Medicare?

I paid taxes into Social Security and Medicare for over five decades. My wife and I have already collected in benefits more than we and our employers paid in taxes our entire working lives.

What I contributed was not enough to keep these programs solvent. What you contributed or are contributing now is not enough. Something must be done to keep both programs fully solvent and forever sustainable.

What is that something?

Anyone who suggests even the most modest changes to current benefits or even to future benefits is vilified by seniors and their advocates in Congress and elsewhere. Everyone wants more, not less.

The reality is Congress has ignored the problems and failed to act for decades. This has passed the burden to younger generations, the workers of today and tomorrow.

This means that assuming no changes are made to either program that affect current beneficiaries, to keep the programs solvent today’s workers will indeed pay more than their fair share for the same benefits. And, they will pay even more to increase benefit levels.

Anyone who is collecting either Social Security or Medicare benefits is not entitled to more. They did not pay for the benefits they have. They contributed toward the benefits of others and that was not enough.

There is no fair way to fix all this let alone add new benefits unless every generation and every American pays a fair share … and that does not mean we tax only some Americans.

If all this makes you angry, direct your anger at every member of Congress. 

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6 replies »

  1. Diane, If I may be so bold, I recommend you Google the Bowles-Simpson report from the committee set up by President Obama (he ignored their recommendations, but that’s another story. )

    Also, you may want to read the Citizen United case decided by the Supreme Court several years ago.

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  2. By fair share you mean the 1%. When I was young, fair basically meant equal. I can’t imagine what young children are taught these days. It OK to take your friend’s toy. Since he owns it, he must be the 1% and it would only be fair that everybody else play with it instead.

    It will generations before the definition of fair goes back to its true meaning. For now the word fair cannot be used to solve anything.

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    • The way things are going it’s never going back. Sadly, more and more Americans are falling into the socialist trap and naive promises.

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  3. Now if they take off the yearly limit on the FICA tax; that alone will bring in a lot of money. CEOs are done paying on 2/1. Now we need a law/rule that bans Congress from dipping into this fund.
    2016; a group in the House Stopped them from doing it that year. They HAVE been dipping into OUR funds since 1965 when LBJ moved it into his budget to balance it after his war debt from Nam. I have checked with my people in Congress AND YES THEY HAVE DIPPED INTO IT ALL THESE YEARS. That’s why as a group, they stopped it in 2016. I am all for converting the Congressional Pension plan to SS and making them follow the same rules as us. They don’t deserve a pension for what they do and its almost the exact amount of their regular salary.
    We need term limits, outlaw PAC $$ and perks, Have them pay SS, follow the same things as we have, medical, dental, prescriptions etc. Have the Supreme Ct. ruling that says corporations can give any amount to a campaign outlawed. After they win, then Big Business OWNS them.
    they are elected to Serve US the People not their wallets, not specialized Businesses.
    Campaign financing revised so that they serve us.

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    • Nobody dipped into the funds. The bonds in the fund are being redeemed now to pay benefits. All your information is wrong. Since benefits are based on the taxes paid nobody gets more than they earned and in fact the lower income get a higher benefit relative to taxes paid. Why should we turn this into welfare?

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      • Not so.. there is a formula, but it is designed to grant higher benefits, much more than the value of taxes paid, by lower income workers or those with gaps in employment (new moms, etc.). The formula is also designed to grant less benefits, much less than the value of taxes paid by higher income workers who paid in all their adult years (over 35 years of work). In fact, adjusted for inflation, any period of paying taxes for over 35 years is ignored or discounted is calculating benefits.

        It already close to welfare. It is headed closer to welfare through taxation of benefits and premium surcharges.

        It is why they call it SOCIAL Security.

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