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View Diary: Social Security by the Numbers (73 comments)

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  •  I like the idea of tarrifs, but this is only a (1+ / 0-)
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    Liberal Thinking

    couple of decades problem.  Once large numbers of baby boomers start to die then less money goes out of social security.  So maybe don't take off the caps, but raise the cap to $500,000 and in a few decades lower it again.

    •  Baby Boomers Are Not the Problem (1+ / 0-)
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      As I noted here the needs of the baby boomers have already been addressed. We have been paying a higher rate, our retirement was already delayed, and they made our benefits taxable. This was all done at the behest of Alan Greenspan in the 1980s.

      Raising the cap to a half million is sensible, since you basically need a million-dollar income these days to be truly secure. I have to consider people making $500K a year to be working-class.

      But the fundamental problem, as I wrote, is that workers are simply not being paid what they used to be. We've had a four-decade policy of holding down wages. It's succeeded to the point it's affecting Social Security funding. We need to reverse that policy, not just to rescue Social Security from its "rescuers" but to get the economy back in order more generally.

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