February 20, 2010
LIFT THE CAP, RAISE RETIREMENT AGE AND MEANS TEST...:
Obama: Social Security fix would be simple (AP, 2/19/10)
President Barack Obama says Social Security is slowly running out of money but that it can exist well into the future with a slight fix.
The system is funded with a tax on earnings, up to $109,000 a year. Obama says lifting that cap to tax a larger share of income would be one way to extend the system of monthly payments for retirees. It also would be unpopular with some.
...and the program never "goes broke." Unfortunately, that alleviates the pressure on politicians to reform/personalize/privatize the program. Posted by Orrin Judd at February 20, 2010 7:31 AM