(no subject)
Interviewed on CNBC television, Bush said: "I want to deal with the unfunded liabilities inherent in Social Security and Medicare."
"I believe we can do that and at the same time assure those who are on Social Security they have nothing to worry about and those who are going to pay into Social Security that you don't pay into a bankrupt system," he added.
Bush said "my idea" is that Americans at lower income levels would see benefit payments continue on the current basis, but "if you're a wealthier citizen, your benefits increase at the cost of living...so everybody's benefits go up but some go up faster than others."
from here.
There's a problem with Bush's "idea", and the problem is that parts of Social Security, like Social Security Disability Insurance, already have benefits increase with the cost of living. I'd assume that all Social Security benefits increase in this way, actually, though I can't state that for certain. So what it sounds like to me is that Bush is suggesting that Americans at lower income levels, like those who can't work and are on SSDI or SSI, have their payments not increase as the cost of living does, which is actually decreasing the amount of benefits these people would receive.
That seems entirely wrong to me. What I'd like to see is those "wealthier" citizens have an option to voluntarily give up their benefits to citizens at "lower income levels", with the understanding that they can choose to reinstate their benefits at any time. Of course, that idea would never happen.
Honestly, the only way I can see Social Security getting fixed is by people paying more into the system. Privatizing it won't work. I haven't heard of any solutions for fixing Social Security that have any real merit, even those by Democrats I like. I don't think my solution will be suggested for several years yet, until it's the only feasible one and a decision has to be made between abolishing Social Security completely or increasing the amount people pay into it. Anyone else have any other ideas, or know of other solutions I might not have heard of? American_Lion, I'm looking at you.
"I believe we can do that and at the same time assure those who are on Social Security they have nothing to worry about and those who are going to pay into Social Security that you don't pay into a bankrupt system," he added.
Bush said "my idea" is that Americans at lower income levels would see benefit payments continue on the current basis, but "if you're a wealthier citizen, your benefits increase at the cost of living...so everybody's benefits go up but some go up faster than others."
from here.
There's a problem with Bush's "idea", and the problem is that parts of Social Security, like Social Security Disability Insurance, already have benefits increase with the cost of living. I'd assume that all Social Security benefits increase in this way, actually, though I can't state that for certain. So what it sounds like to me is that Bush is suggesting that Americans at lower income levels, like those who can't work and are on SSDI or SSI, have their payments not increase as the cost of living does, which is actually decreasing the amount of benefits these people would receive.
That seems entirely wrong to me. What I'd like to see is those "wealthier" citizens have an option to voluntarily give up their benefits to citizens at "lower income levels", with the understanding that they can choose to reinstate their benefits at any time. Of course, that idea would never happen.
Honestly, the only way I can see Social Security getting fixed is by people paying more into the system. Privatizing it won't work. I haven't heard of any solutions for fixing Social Security that have any real merit, even those by Democrats I like. I don't think my solution will be suggested for several years yet, until it's the only feasible one and a decision has to be made between abolishing Social Security completely or increasing the amount people pay into it. Anyone else have any other ideas, or know of other solutions I might not have heard of? American_Lion, I'm looking at you.