If you believe Social Security is broken, here's proof that it's easy to fix:
- CBO analysis shows that if all income were subject to the Social Security tax (as opposed to just the first $106,800), Social Security's trust fund would last through 2083. Given the imprecision of 75-year economic forecasts, that should be good enough for now.
- A poll conducted for USA Today by Gallup shows that 67% of Americans support lifting the cap on income subject to the Social Security tax.
Problem solved. In fact, it was so easy to solve, it's really not much of a problem.
Too bad that the guys freaking out about Social Security's long-term solvency don't seem to give a damn about climate change or our dependence on foreign sources of energy, both of which pose a far more serious threat to our way of life than does Social Security, which far from being a problem or a threat is is arguably the single most successful social program ever devised.