On Fri, Oct 1, 2010 at 1:25 AM, Robert Munn <[email protected]> wrote: > > I'm not ignoring it. I am confronted by the fact that, under the > current forecast, I will be one of the first people to begin losing > what I paid in, and my daughter can look forward to getting only a > fraction of what she paid in, if anything. And that's if things go > well. In other words, why should I be concerned about destroying the > economic well being of the elderly when the elderly are clearly not > concerned about destroying the economic future of the young
The Social Security Trust Fund currently has $2.5 trillion dollars in it. By 2023, it is projected to grow to $4 trillion. Current projections show that by 2039 payments would finally start to be effected, falling to 80% of the normal payout. That's 29 years from now. There are several changes that can be made to extend the solvency date out to the limits of the CBO forecasting, for instance, raising the cap on income subject to SSI. Currently the cap is at $106,000 in income. If you raise that to $250,000 or remove the cap altogether the full rate payout projections get extended out beyond the 75 year forecasting limit. There are other solutions that have been proposed as well. Once again to summarize: there is no Social Security emergency. Payments are not forecasted to be affected in the slightest for 29 years. There are multiple solutions on the table to ensure solvency for your children and their children. Social Security is not the problem. You may not like the system but it is not a system in imminent danger nor is it the cause of our structural deficits. Judah ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology-Michael-Dinowitz/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:328407 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
