Cut Social Security benefits for wealthy

Opinion

Cut Social Security benefits for wealthy

Continuing to raise the retirement age is not the answer to bolster Social Security. Many people cannot keep working beyond a certain age because of the physical requirements of their jobs ("To shore up Social Security, raise the retirement age," Our view, Social Security debate, Tuesday).

Raising the retirement age is, in effect, a cutback in benefits that undermines the entire Social Security program. The solution is actually quite simple and obvious. Currently, the maximum taxable earnings for deductions for Social Security is $106,800. We need to raise the earnings limit so that the rich contribute more. The way the system is now, they never pay more in Social Security taxes than a person earning $106,800 a year.

At the same time, we need to freeze their benefits at the current maximum rate. This would be a backdoor means test as, unlike average workers, the rich would pay in much more than they would receive. If this sounds unfair to the wealthy, just remember that people who are rich now pay some of the lowest federal income tax rates for their top bracket in over 75 years.

Thomas Hanley; Fulton, N.Y.
------------------------------

Stop squeezing rich

I read the opposing view of Ross Eisenbrey, vice president of the Economic Policy Institute, with much interest and total disgust. It is shocking how some people twist the facts ("Hike benefits, not age").

Although it is absolutely true that the wealthy don't pay Social Security tax on all of their income, the writer fails to point out that the Social Security benefits they receive are also calculated on only a portion of their income. This fact was conveniently omitted.

Americans need to wake up and stop with the class warfare often caused by misinformation. The "wealthy" pay most of the taxes in this country regardless of what the left wants us to believe. These are the same people who provide most of the jobs. I can guarantee you that, at some level, the government will be taking so much from them that many will quit providing jobs. That will not be helpful for the economy.

Wake up and don't be led down the wrong path, America.

William L. Shores; Longwood, Fla.

http://www.usatoday.com/news/opinion/le ... _ST1_N.htm

one way to make social security last is:
Politicians need to quit spending and taking money out of that system to pay other plans.
STOP THE MINDLESS SPENDING!

The SS fund has been used as a welfare fund for those who never paid in,
something it was never meant to do.

Quote:

---

The SS fund has been used as a welfare fund for those who never paid in, something it was never meant to do.

---

Yup. Moreover it is now a Ponzi scheme, despite supporters claims to the contrary. When more people are drawing out than are paying in it will become an unsustainable system, peppered along the way with reduction of benefits and increased taxes.

It is not the responsibility of the government to provide retirement income or medical support to its citizens. As we have already seen in the Soviet Union, Cuba, North Korea, China and Europe, when Communist/Socialist governments do so it ultimately results in national bankruptcy. What kind of care are the citizens of these nations receiving? What kind of living standards do they have? I have not seen first hand what it is like in the Communist countries. But I lived in Europe for 4 years and I do not not want their standard of living or health support. Moreover, Europe and China are now taking a more capitalistic course because they know it is the only long term economic approach that will enable them to survive. Castro has hinted at the same thing in Cuba. Russia is also trending in the same direction.