Social Security

According to the Social Security Administration, benefits could be cut by 23% in 2035 if no changes are made to how we fund the Social Security Trust Fund.

Republicans in Congress want to make those cuts TODAY. I never want to make those cuts. I want to fund the trust, to ensure that we always have that safety net there for millions of Americans who have paid their hard-earned fair share into the system. They earned these benefits so that it is there when they need it.

But the system does need change to ensure it’s survival. Here’s are some easy changes that would help address the Social Security shortfall:

• Increase the Payroll Tax

• Remove the Income Cap

  • By taxing all wages above $400,000, this could solve 67% of the trust fund’s solvency issues

• Reduce Benefits for High Income Individuals/Families

• Invest a Portion in Stocks Rather Than Bonds

These are simple changes that could be made today, would have little to no effect on low-income individuals, and could solve alot of Social Security’s funding issues. These changes could help avoid future benefit cuts and/or adjusts to benefits, the retirement age, cost of living adjustments, and anything else that would have a direct effect on everyday Americans.