SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Politics for Pros- moderated
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: LindyBill who wrote (90295)12/14/2004 11:23:24 AM
From: TimF   of 793782
 
re: Why not treat Social Security like everything else, something to be budgeted for on a short time-horizon so that we can recalibrate as the situation changes and new information comes to light. If it does, in fact, appear to be true in the year 2012 or 2022 or 2042 that making the numbers balance requires either a change to the benefit formula or a change in the tax rate, then that would be an excellent time to change them. Why try to make guesses now?

Shift to another large federal program -- the Department of Defense. How much do you think we should spend on the Army in 2056 and are current income tax receipts compatible with spending that much money? Obviously, it's a stupid question. No one would even think to ask it. They'll figure it out in the 2050s.

Social security is even bigger then defense and has built in to it rules that will require an enormous expansion of spending. Spending on the military as a percentage of the GDP even if there is temporary blips upwards (like we have had lately). These blips are less predictable and less expensive (unless you think we are going to have another world war) than the increases that are going to happen (if we don't change the benefit formula or retirement age) in social security.

Also if we wait for decades to change the benefits formula you will have a huge transfer to the people who retire before the change followed by the people after the change getting very little. It would be fairer and more reasonable to "spread the pain" over everyone from current retirees to those who aren't even born yet.

Tim
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News