How to fix social security?

Question

What is the best way to fix problems of social security?

Answer 1

social security  revenues should not be allowed to  be used for any other purpose        both parties have used it as a revolving charge card  and its now clear that  it has to stop       it also might be a good idea to reconsider how social security  payments are calculated    some folks dont need it    others  might need it more        perhaps  it should be calculated more on need than just a flat calculation       with an offsetting tax credit  for those that dont have the need     and it wouldnt hurt to let small business owners contribute more to IRA's and such

Answer 2

Why do we cap social security earnings at 100,000. All payroll should be taxed for social security, that would shore it up for more than a few years.

Answer 3

It is the biggest government boon-doggle ever.  SS is and always has been a Ponzi Scheme, unfortunately, the Baby-Boomers will no longer be paying, but receiving benefits.  We are screwed and the time is near when this Ponzi scheme is going to collapse.

I could have been a millionaire at retirement, but government took my money and gave it all to other recipients and took the surplus and left us with IOUs.  Screwed is a good word for it all.

Answer 4

As long as politicians are only worried about getting reelected they will never fix the problem.

Answer 5

force the democrats to find a way to repay what they took over the years

Answer 6

Here's how to do fix it and help the environment at the same time. Start 401-k accounts starting at birth.  We already know that interest bearing accounts work best along with the element of time. And who has more time than a baby?

Lets require parents to contribute 3 percent of their income towards each of their children's 401-k. We'll call these accounts Spring Board Accounts because a percent of it can also be used for college and another percent for a down payment on the child's first home. After that its just a race to retirement.

Perhaps, Grandparents as well as anybody else could be allowed to contribute to a child's Spring Board account too.

With this method of fixing social security (as though there is a problem) parents will have to be careful as to how many children they have. This will help keep the population down and our government will not have to worry about its aging population ever again.

Answer 7

stop paying into it the money is long gone thanks to the democratic party for when Nixon's was in office

Answer 8

Social Security is supposed to be a retirement program that tax payers fund for themselves. People were not supposed to draw on it early (SSI). Nor should it be for people that didn't pay into it.

So to fix it, put it back the way it was supposed to work and don't let the government borrow from it.

Answer 9

Quit letting the government be in charge of it.

Answer 10

Good Question.  Here's a couple of thoughts:

1).  Allow individuals to invest their money in any fashion they see fit - e.g. privatize portions of it.

2).  Send individuals statements of their accounts - money that they are entitled to based on their contributions.

3).  Reduce or eliminate payouts to those that have collected more than 5 years of welfare in their lifetime - enough living off the public dime.

4).  Educate the public that Social Security should not be their only retirement plan.

5).  Stop stealing from it to fill gaps in other Budget lines.

Answer 11

If the government would stop robbing the system, with no intention of paying back, for these illegal wars, then the system would not be in need of any fixing.

  It is one of the very few plans and system ever devsed and run by the federal government that ever worked, and they're trying their best to s***w that up.  +

  A good example of why we should not let them handle our health care.