IT'S SO EASY TO FIX IT'S ABSURD TO CALL IT A CRISIS:

Options to fix Social Security’s looming shortfall (Associated Press, 05/17/10)

Social Security faces a projected $5.3 trillion shortfall over the next 75 years. Options for improving the program’s finances, with the percentage of the gap that would be eliminated:

—Immediately increase payroll taxes for workers and employers by 1.1 percentage points each, to 7.3 percent: 104 percent.

—Increase payroll taxes for workers and employers by 1 percentage point starting in 2022, and an additional percentage point starting in 2052: 103 percent.

—Increase payroll taxes for workers and employers by 1/20th of 1 percentage point each year for 20 years: 69 percent.

—Tax all wages including those above the current cap of $106,800, without providing additional benefits to high earners: 116 percent.