Social Security has been in trouble for quite some time.
Much of what Americans pay into the program gets reallocated to fund other government projects, and many are worried the whole system is collapsing.
Without serious reform, Social Security won’t last forever, and Congress is attempting to take a stab at fixing it.
But is it feasible?
From The Hill:
More than 200 House Democrats on Wednesday reintroduced legislation to expand Social Security by increasing benefits for recipients.
The bill was reintroduced on the birthday of President Franklin Delano Roosevelt, who signed the law creating Social Security in 1935.
“The time to act is now,” Rep. John Larson (D-Conn.), the chairman of the House Ways and Means Subcommittee on Social Security, said at a press conference.
The new bill would require workers and employers in 2043 to pay a 7.4% increase in payroll taxes instead of the current 6.2%.
Democrats claim that this increase in the payroll tax is necessary to offset the rise in the cost of living.
Americans are all for safeguarding Social Security and keeping it solvent.
But instead of raising the employee and employers contribution to 7.4%, why not do more to ensure the government stops raiding the Social Security Trust Fund for their other pet projects?
SHARE to tell Washington we need Social Security reform – not socialism!
The legislation would also provide “an increase in benefits for recipients that’s equivalent to 2% of the average benefit.”
Note the raise of 2% of the “average” benefit… not 2% of the overall benefit. The idea here is a movement toward a flat economy, like the USSR’s.
This is just another way to give people that paid the least into Social Security even more benefits.
The Democrats are consistently pushing for socialism – where there’s the ruling class (them) and everyone else on a flat pay scale (us).
Socialism failed in the USSR. It doesn’t work. Yet the Left keeps pushing for it. Those ignorant of history are doomed to repeat it.
Expanding government will only bankrupt our country. We need common sense reforms that pay seniors what they have paid into Social Security, while reforming the program for the future without raising taxes through the roof.
SHARE to tell Washington we need Social Security reform – not socialism!
Source: The Hill
