Fixing/Saving/Reforming Social Security

Via NCRenegade

VERBATIM POST
======================

Part of fixing the economy must involve dealing realistically with Social Security. Many on both sides of the political aisle want to make it more complicated than it really is. Though today Social Security is paying out more than it is taking in, its solvency depends on stopping the expenditures of its monies which are put in the general fund and used to finance everything in America. Publicly disclose what the monies are being used for besides paying recipients.

Here are five immediate ways to save social security:

1-Put social security in that elusive lock box making it inviolate for any other bills the
nation may incur. It is time we quit financing wars, social programs, etc. from these monies. Cannibalizing this fund to underwrite other programs is a disservice to those who pay into it and a disproportionate unappreciated hidden tax on its contributors. Take 10% of funds annually currently being taken from the Social Security Fund for other than its recipients and replace that as well as cut out that spending from the general fund. This will
generate a balance to the fund in 10 years for its previous rape.

2-Recognize that there should be no sliding scale for receipts on this money upon retirement for it has already been taxed when put in. Taxing these monies upon retirement is double taxation without representation. There was no financial wealth test for investing and one should not have to face one when monies are withdrawn.

3-Citizens should be allowed to place up to 10% or more of their monies from this fund into an alternative such as a 401K, IRA, government backed vehicles or even the stock market if they want to take that risk. This act then reduces their Social Security payouts.

4-Only those who put into the system should be allowed to withdraw from Social
Security. Spouses and children should be covered through other programs since no money was put into this fund for them. This should be an individual program not a family resource program.

• If a spousal benefit is desired then a sliding scale of increased contributions should be sought accordingly from those who want their children and spouses covered.
• If one dies before one can collect funds put in Social Security, those unpaid monies equal to that invested should be given to the enrollee’s estate.
• Each uncovered spouse and child should establish their own accounts with monies they pay in or additionally withdrawn from their spouses earnings to cover this.

5-The Totalization Agreement with Mexico should be nullified and any monies put
into the Social Security fund by non-citizens should remain with the fund to absorb its legacy costs from the first retirees who paid nothing into the system but withdrew from it. (Annual projected loss here to the fund is one billion dollars.)

6-The quarters required for pay in should be increased every two years by one quarter for those new payees until fifty quarters are established as a base-line not the current
forty after 2025. This avoids raising the retirement age and gives more resources to the fund.

Dr. Ada M. Fisher is a liciensed physician, previous school board member, licensed
secondary education teacher for mathematics and science,Author, Public Speakers as well as the NC Republican national CommitteeWoman. Contact her at P. O. Box 777; Salisbury, NC 18145; DrFisher@DrAdaMFisher.com