Comments on: How would you fix Social Security? http://www.consumptionrules.com/how-would-you-fix-social-security/ business, economics, consumer information, current events, politics Tue, 06 Jan 2009 15:42:16 +0000 http://wordpress.org/?v=2.6 By: Brad http://www.consumptionrules.com/how-would-you-fix-social-security/#comment-18090 Brad Wed, 14 Nov 2007 16:55:46 +0000 http://www.consumptionrules.com/how-would-you-fix-social-security/#comment-18090 Option 1 may increase benefits, but would do nothing to cover the shortfall unless you gave everyone <i>less</i> and hoped the market made up the difference. You'd probably still have to raise taxes, though to accomplish this one, because privatized accounts are owned by the individual - when death comes knocking the beneficiary is no longer the federal government. Option 2 sounds like a great idea on paper - borrow money from useless government programs to cover the difference - practically speaking, though, I can't envision a president or congress that's powerful and disciplined enough to do that to a measurable extent. It would be great if it happened, but I can't imagine it. Option 1 may increase benefits, but would do nothing to cover the shortfall unless you gave everyone less and hoped the market made up the difference. You’d probably still have to raise taxes, though to accomplish this one, because privatized accounts are owned by the individual - when death comes knocking the beneficiary is no longer the federal government.

Option 2 sounds like a great idea on paper - borrow money from useless government programs to cover the difference - practically speaking, though, I can’t envision a president or congress that’s powerful and disciplined enough to do that to a measurable extent. It would be great if it happened, but I can’t imagine it.

]]> By: doug http://www.consumptionrules.com/how-would-you-fix-social-security/#comment-18044 doug Wed, 14 Nov 2007 02:45:41 +0000 http://www.consumptionrules.com/how-would-you-fix-social-security/#comment-18044 Or, let younger folks invest some of their money and cut spending elsewhere in the budget to cover any shortfall in social security. Or, let younger folks invest some of their money and cut spending elsewhere in the budget to cover any shortfall in social security.

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