Let us return to the true purpose of Social Security, an insurance policy that guarantees no elderly or disabled person will live in destitution. We can accomplish that by: 1) cutting the rate of Social Security withholding tax in half, 2) making all income including capital gains subject to that reduced tax rate, 3) means testing the ability to start collecting Social Security until the age of 72. Result, a fairer system that allocates costs and benefits equitably and raises more money for the Social Security trust fund.
Why is this important?
There is too much economic information out there about the need for reforming "entitlements"to ignore. But all the suggestions are about cutting benefits. We need a Progressive alternative that guarantees social security for the future an d helps working and middle class people.
