Problems with Social Security system

Posted by
Staff Writer
in Opinions
Wednesday, September 29. 2010
Comments (2)
LETTER TO THE EDITOR

Dear Editor:
One advantage of advanced age is that when an old story comes around again you recognize it for what it is. In a political year the story is a fearful one, government doing something terrible like letting Social Security go broke. I remember attending a dignified presentation at Gainesville College led by two congressmen. They had big graphs to show how fast it was going to happen, and what our options were.

The problem was, and still is, yes our Social Security funds could be ruined, or saved, depending on what Congress does. What happened that time, and again and again, was that Congress did the right thing. They raised the cap on the salary base that gets taxed. This was a fair approach, everybody contributes, and it worked.

But there is still a problem; the cap that keeps being raised is now at $106,806. Anything above that is free of tax, while anything below is taxed at the same rate. You have to wonder why there is a cap at all. Perhaps the original cap was so low, not many people were affected. But now the effect is to favor those earning the most.

If you were a millionaire your wages would be taxed $6,621. On a million dollar income that amounts to only a tiny percentage. How nice for the rich. Our congressmen earn more than the cap, and probably always will. How about the rest of us? Some followers of Wall Street encourage privatization of the fund, like we would all be capitalists then. But what guarantees a good return from stocks? Not this year! Or last year!

Maybe we should tell our congressmen to hang on to the present system but raise the salary cap. The phone number for everybody in Congress is 202-224-3121. Their direct lines are in most newspapers. Let them know we are thinking of them.

Sincerely,
Adele Kushner
Alto
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#1 outside observer looking in on 10/01/10 at 07:11 PM [Reply]
This all depends upon which part you prefer democrtaic or republican,,,,The republicians want to spend money on any type of war....while the democratics want to take care of their own people. Naturally the republicians want you to think they are real conserative,,,,,but then there was Bush ,,,and BUSH dollars expanded goverment ,started wars and lined Halibuton pockets,,,,so which party are you for ....
#1.1 informed member of the public on 10/03/10 at 07:55 AM [Reply]
I agree with you 100%,but yet people still want to go back to the ''republician error''
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