Quote:
Originally posted by taxwonk
I'm not disagreeing with what you say. However, I think that the expenditure of supporting the people in paragraph 1 would be lower overall than the cost of paying social security to all recipients under the current system.
I agree with your assessment of paragraph2, which is why I am not running for Congress.
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One of my prescriptions for social security would be on the funding side rather than the expenditure side. I think the fact that social security is funded solely from the wage base has a decided impact on our competitiveness (it's a cost business abroad often don't bear) and results in a regressive tax. I'd take the cap off and apply the tax to unearned income as well, and either use the additional funds to lower the tax rate or to remove the employer side wage tax. Of course, Moynihan fought this battle for years, with very little to show, so I'm probably not heading for Congress, either.
