How are you going to differenciate between SS printed money and general money?
It can be paid for honestly. We just need a government with a modicum of integrity on the job. They waste vast sums on bad causes and act all frugal on important social issues.
All the government needs to do is not touch the money that is paid for by us with our Social Security taxes. That would eliminate any further measures.
The surplus Social Security will run out in 2034. If SS taxes are increasedwe won't have a problem.
Higher earners need to pay more taxes, period. So far they've gotten off the hook for just about everything tax related. Fill the loopholes of high end earners and corporate America.
Quote:printing money is a figure of speech in this use.How are you going to differenciate between SS printed money and general money?
99+ % of 'money' ends up as bits set in a computer memory, so yes, it will be the same as all money and will end up in the general economy.
Why not just print money to pay off other stuff too? Because of the above.
Why not just print enough money to pay off everything we owe? Why just social security? (she asked facetiously )
I think the impact on inflation by my proposed fix ...
Quote:It can be paid for honestly. We just need a government with a modicum of integrity on the job. They waste vast sums on bad causes and act all frugal on important social issues.
It could, but I see no hope of a government with real integrity. The measure I suggested would eliminate one source of government misuse of SS. Currently the government uses ALL SS collected money for the general fund, there is no SS trust fund, it contains nothing but IOUs paid for by selling T Bonds. That adds to the national debt and the portion of government spending going to interest.
"I think the impact on inflation by my proposed fix ..."
Where is your evidence of this? Or is it just what you think, as opposed to what has happened in other countries over the years.
You can't propose this "just" for social security because it would immediately spill over into other areas as the money is spent, loaned etc in the bigger environment.
In my opinion, you might as well use Monopoly money, and save the cost of printing some, because nobody on Earth would honor it anyway.