Tuesday, February 14, 2023

Time is coming for your Social Security

        Despite Joe Biden's calling out Republicans for their plan to cut Social Security and Medicare benefits, another foe of these entitlements remains undaunted.  Time is that enemy.   Republicans only have to wait until 2028 for Medicare benefits to be cut and 2035 for Social Security's trust fund to be exhausted.  Cuts will be automatic. There are a number of fixes which would keep both programs solvent in the long term.  Raising the amount deducted from each employee's paycheck and the same with each employer's contribution along with removing the salary cap for such deductions would put both programs in good shape through the enc of the century.

       What most of the Republicans who oppose Social Security don't seem to realize is many if not most off their constituents depend on these programs for a dignified retirement.  Their financiers among the 1% have no idea.  They are for the most part Ayn Rand fanboys who feel the proles deserve misery instead of equity.  All they have to do is obstruct any Democratic plan to stabilize the system and time will do the rest.

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