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Swede Atlanta

(3,596 posts)
1. My disgust with the debate about Social Security is this.......
Fri Feb 14, 2014, 08:43 AM
Feb 2014

The same people who want to cut benefits are the same people whose policies have given us the historical income inequality we see today.

I would be more open to looking at "reforming" social security if
(1) Wages had not been stagnant and workers had seen at least some of the huge increase in profitability over the past 30 years
(2) There had been a clear consensus around the need to reduce the future expense of the program and for at least 2-3 generations people had been encouraged and given tools to save to augment social security income. The first requirement for this is (1) - living wages that give people a chance to get ahead
(3) We had multiple programs, separate from employment, that provided viable investment and savings options for lower income individuals. The likes of Fidelity, Ameriprise, etc. really aren't interested in someone who may only invest $1K a year. They want larger portfolios.

But since the average American can barely keep their heads above water let alone save for a child's post-secondary education (college, trade school, etc.), a rainy day or retirement, social security is basically all that many Americans will have to live on in their later years. That's why we need to be talking about improving the program, increasing benefits to at least some recipients, etc. NOT reducing benefits.

If the 1% don't like the amount of money SS is costing then they need to accept eliminating or at least raising the SS income cap, giving up corporate subsidies and increasing marginal rates at the top to reduce and eventually eliminate the budget and start paying down the debt.

But they won't. They have all theirs and they want more. And a place they can see for getting more is to take food out of the mouths of hungry children and our seniors.

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