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View Diary: LA Times Article Will Sink Romney (175 comments)

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  •  And to be fair, (1+ / 0-)
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    no one contributes to SS above the $106K mark since that's the cap. But I don't think that that is the definition of fair. Although SS does pay in proportion to what one puts in, it shouldn't be a straight line. In other words, SS should provide at least a modicum of dignity to all retired individuals, so some might put in more than they get out but in the end the objetive should be to provide some kind of floor for everyone. I know that that is not how it works but it is not a bad aspiration for a society. And as TrueBlueMajority said above, "the person who made $1 mil every year of his working life is fairly unconcerned about the size of his social security check", unless something catastrophic happens to them and then there will always be SS for them. Even Adam Smith said

    "What improves the circumstances of the greater part can never be regarded as an inconveniency to the whole. No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable."
    •  That's exactly how it works (1+ / 0-)
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      Theres a floor, and a ceiling. Nobody gets less than the floor, regardless of how little they made during their working life, and nobody gets more than the ceiling, regardless of how much they made, because the contributions are capped.

      I think that's fine. Theres no need to change it, other than raise the cap slightly, and adjust the top payout levels very slightly.

      Tweaks, not major overhauls.

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