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Would it be a good idea...?
for Congress and whoever wins the Presidency to work on drawing down Social Security and allow people to start making their own retirement plans. It can't be done immediately but say people 40 and younger to withdraw their SS contributions and start push the money they pay in SS tax into a personal IRA or 401k and allow buisnesses who also pay 6% Social Security tax to continue paying for those already on the program.
Whats your opinon on Fixing SS
2 Answers
- 9 years agoFavorite Answer
We provide information on all of the alternatives. www.FixSSNow.Org.
There is no way to pay for what you are proposing. If you abandoned the promises of the past, you will do no better than you would with an IRA. If you don't you are just changing the financing from your payroll tax to your income tax. You are just as screwed.
The 6% comes from the worker not the employee. The employer treats this as a cost of hiring and pays a lower wage.
"Fix Social Security Now" on FB or www.FixSSNow.Org
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** According to the Social Security Administration
** lifting the cap does not fix Social Security - it doesn't even make it solvent
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