Monday, August 17, 2015
Republicans and the social contract
Virtually every Republican candidate now says we have to drastically curtail the social security system to avoid massive cuts in the future. Of course they neglect to mention there are easy fixes available right now, like lifting the cap for contributions from $118,000 to unlimited. By requiring people making millions each year to contribute 6% to Social Security, the system will be funded for the next 75 years. Of course, the donors to the republican candidates view the entire SS system with disdain or outright hatred. Many democrats are calling for expansion of the system as at least a partial replacement for the pensions which are not being offered by most companies today. In the present employment scenario, many, if not most people will have several careers with different companies. Most will not offer any retirement plans aside from an underfunded 401 K plan. In the future, more and more retirees will depend on Social Security for most of their income. There is a clear difference between the major political parties on this issue. Where will most Americans stand...DUH!
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