I am surprised there is not a dedicated forum on this at DU yet. This is SO huge. I am constantly amazed that I rarely read, even in newspaper editorials railing against privatization, that one simple way to address the issue would be to remove or severely raise the cap on SSN payroll taxes. It's only about $89K now -- lots of CEOs and the like don't pay into SSN payroll taxes after about the middle of January.
I realize that employers pay equal amounts into the system. Wouldn't that be an incentive to keep the skyrocketing CEO costs DOWN? As they should be?
I read that Lindsay Graham is in favor of raising the cap, but the Dallas Morning News gave that short shrift:
http://www.truthout.org/docs_04/122804C.shtml<snip>
Congressional Republicans are also debating a number of ideas on Social Security. Some legislators, such as Sen. Lindsey Graham of South Carolina, have proposed raising the amount of annual income subject to the Social Security tax, though that suggestion seems to run afoul of Mr. Bush's pledge to not to raise taxes.
</snip>
End of discussion???????why??????
If the Dems don't grab this back by making huge noises that expose this ripoff for what it is - money for brokers and Wall Street in general - then who is going to do it?
As we (women) said in the 70s, we have to take back the night, only in this case, we have to take back the daylight, which no longer shines on our government.
b_b