"Renaissance Thinking About the Issues of Our Day"
Every week Senator Bernie Sanders says, and Thom echoes, that Social Security is safe, sound and secure. Every week, in the same breath Senator Sanders says that Social Security will be able to pay out approximately 70% of benefits in 2037, and that with minor adjustments it will be sound beyond that. A failing program is one that requires constant "minor adjustments" and handcuffs the country financially. The minor adjustments can come in only a few forms: higher FICA taxes, lower benefits and a higher retirement age. The FICA tax has been raised 23 times since 1950, the first year of increase. The income cap has been raised 43 times. Sure, each tax increase is minimally incremental, but the rate is over six times the original. The senator and Thom are as delusional as Dick Cheney and his belief that deficits don't matter. Any government program can be made to look sound if no cap is put on the taxes needed to sustain it. And all they are doing is kicking the can down the road--only very slowly--until long after they are dead. This is their blind spot--that Social Security is the ONLY program that can help out the elderly. No American problem has only one solution. There are ways to reform or do away with Social Security without turning the money over to the banksters or greedy Wall Street financiers--and without abandoning those to whom promises have been made.