Social Security needs to return to its anti
cheap moncler outlet Printed Social Security checks. (Bradley C. Bower/Associated Press) cheap moncler outlet
moncler outlet uk +What should the next president do to make Social Security more sustainable? It’s become a cliche to say buy moncler jackets that Social Security is unsustainable, butit’s also the truth. The Social Security Administration projects that it will only be able to pay its beneficiaries in full until 2037. If Congress doesn’t act, benefits will be cut for millions of retirees who have already contributed to the plan. moncler outlet uk
cheap moncler jackets Efforts toreform the program have been launched: Rep. Reid J. Ribble (R Wis.), for example, has taken onthe unpopular task of proposing potential fixes, which include a combination of expanding taxes, uppingthe retirement age and reducing future benefits by pinningthemto more accurate inflation measurements. cheap moncler jackets
cheap moncler jackets sale Hillary Clinton has statedthat she doesn’t want to roll back Social Security benefits in any way. In fact, she wants to expand the program. Donald Trump, meanwhile, hasn’t laid out any specific policy points on Social Security, but he has said that he opposes any cutsto benefits. cheap moncler jackets sale
Are the most popularly proposed Social Security reforms moncler outlet sale raising the retirement age, reforming cost of living adjustments or expanding the cheap moncler coats withholding tax fair to retirees and workers? If not, what should be done to make the program sustainable going forward?
moncler outlet online Rachel Greszler is a senior policy analyst at the Heritage Foundation. moncler outlet online
moncler sale Social Security is unsustainable. It faces an $11.4 trillion deficit over the next moncler sale outlet 75 years. Yet Donald Trump wants to maintain current benefits, and Hillary Clinton wants to expand them. moncler sale
moncler outlet jackets The next president needs to recognize that Social Security is monlcer down jackets much larger than it was ever intended to be or needs to be and that maintaining its current benefit structure will cause a huge drag on workers’ paychecks and economic growth. Social Security could better accomplish its goal with significantly lower cost through a flat, anti poverty benefit. moncler outlet jackets
cheap moncler coats It’s possible, cheap moncler jackets as Clinton proposes, to reduce the program’s shortfalls by raising taxes on the rich. But that would be economically destructive, and politicians would almost certainly spend the higher taxes on other government programs. cheap moncler coats[Social Security needs to be fair for everyone, not just retirees]
moncler outlet sale Although Clinton has avoided specifics, raising the payroll tax cap would bring the top marginal tax moncler outlet rate (federal and state combined) to more than 70 percent, and applying the payroll tax to investment income would raise the top rate to 36 percent. Such high taxes are neither necessary cheap moncler nor beneficial. moncler outlet sale
moncler sale outlet Social Security was established to prevent poverty among individuals in their final years cheap moncler outlet of life, when they were no longer able to work. But today, Social Security provides decades long benefits to many retirees. The poverty rate among the elderly is nearly 10 percent, but Social Security sends benefits of more than 2.5 times the poverty level to the highest income retirees. The program has broken its moncler sale outlet
If Social Security offered competitive returns or had a positive Moncler Outlet impact on the economy, its massive size may not be so terrible. But by taking payroll taxes that could otherwise be saved and invested and trading them for current government spending and future obligations, Social Security saps the economy of growth and guarantees paltry returns.
Most workers don’t realize that they could achieve much larger retirement incomes by saving far less than Social Security takes in taxes. Even workers earning $10 an hour could achieve Social Security’s promised benefit by saving half as much as the taxes demand.
moncler outlet store [The problem with Social Security lies in its history] moncler outlet store
Given its inefficiency as a retirement savings program, Social Security should focus on preventing poverty among cheap moncler sale seniors. This could be accomplished by gradually shifting toward a flat, anti poverty benefit, increasing the eligibility age in coordination with life expectancy and work capacity moncler outlet store and using a more accurate measure of inflation. Almost nothing would change for current and near moncler outlet online retirees, and future workers would eventually pay lower payroll taxes.
moncler jacket sale Are moncler sale these reforms fair? Absolutely. Social Security was designed to kick in when workers lose their capacity to work. Since Social Security began, life expectancy has increased by 17 years, and jobs have become far less physically demanding, leading to the finding that workers could be working four years longer than they are. And while https://www.beautylyrics.com it makes sense to provide Social Security beneficiaries with an annual cost of living adjustment, it is irrational to use an outdated, narrow and inaccurate index that causes benefits to grow faster than actual inflation. moncler jacket sale
moncler outlet A flat, would lift millions of retirees out of poverty. Although middle and upper income earners would receive less from Social Security, they would be far better off financially (both in their working years and retirement) than if they were forced to pay higher taxes to maintain Social Security’s promised benefits moncler outlet.
Join the conversation
You must be logged in to post a comment.