Angry Bear in The Sky is Not Falling on Social Security says:
The truth is that we can fix Social Security for literally pennies a day per worker and don't need to pay attention to hysterical Henny Penny's. Social Security is mostly not broken and the part that kinda is (DI) is fixable. And we have (or will shortly) numbers to prove it.
It appears Bruce Webb is a social security watchdog and is promoting two plans to fix social security for pennies on the dollar.
He deserves a read for social security is continually under attack by privatization parties who want to turn yet another social safety net into some sort of gambling casino.
He's got the numbers.
Thanks for the plug
We call it the Northwest Plan because the authors are from the Northwest. Co-author Coberly is finishing up a sub-plan dealing with OAS (Old Age Insurance) separately from DI (Disability Insurance) which is already up. Our spreadsheets show that you can fix DI with a 0.2% increase in 2010, a 0.1% further increase in 2012, and another 0.1% in 2045.
Assuming the employer employee/employer split someone making $12.50 an hour or $26,000 a year would face an initial tax increase of 50 cents a week. For a household making double that (close to the U.S household median) that doubles to $1 a week.
Fixing OAS is a little more expensive in current dollar terms but not so much so when expressed in constant, inflation adjusted dollars. But that too can be fixed with an initial 0.2% boost starting in 2028,
It really does come down to pennies a day.
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And a note to the site ADMIN. That is the worst CAPTCHA I have ever seen. I imagine that people with even mild color blindness would fail the test. P.S. I failed the first time.
Welcome Bruce
Register & log in and you never need see the captcha again.
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Welcome to EP Bruce Webb
I'm so glad you're watch dogging this. Why SS is so under attack I will assume it's for some vested interests wantinng all of that capital for private investments.
Feel free to cross post (see EP requests when doing so) if you are trying to generate more awareness/support for legislation. EP is nonpartisan.
On the site,
I'm working on an upgrade and ran into some serious problems, had to stop for awhile...so hopefully it will happen soon.
but to bypass the CAPTCHA (and yes I know it is nasty, on purpose because a lot of the other security I tried to incorporate filtered out legitimate users due to the other systems on EP) go to the right and create an account, login. Then it's all bypassed.