In a recent article, Social Security needs to be fixed – So just do it, a few points stood out.
#1. A Social Security fix “boils down to some combination of benefit reductions and revenue increases.” When politicians talk of revenue increase they are talking about increasing social security taxes. How can we bring awareness to the fact that a better solution is not higher taxes but taxing more people (from illegal aliens to foreign visitors)? Let’s say that’s another 50 million people paying into the system, that sounds like a good, viable, alternative solution for fixing Social Security. That is the FairTax approach.
#2. “The administration will oppose any measures that privatize or weaken Social Security.” Does it oppose raiding the social security lockbox and spending money specifically collected from Social Security taxes on other things? Doing so weakens Social Security. If we had all the money ever collected from Social Security taxes (and not yet paid out in benefits) in a savings account right now, we wouldn’t be talking about this issue.
#3. “Imagine what could get done if those who profess to care so much about Social Security worked together on a plan to save it.” Imagine all the people, marching on DC demanding the FairTax plan be passed. That’s a revolution worth fighting for. The future of our free society is at stake.