Social Security is the most successful government direct assistance program of the modern progressive era; what the program represents is the ever evolving efforts of humankind to expand the benefits of civilization. It's stated goal, clearly a success, was to alleviate poverty for Americans as they enter old age. This progressive program is copied all around the world. There are some who have contemplated changing this Security Program into a individualized, privatized scheme -- I do not agree with them. To privatize this program is to loose the progressive nature of the program and removed the "security" aspect of the program. We do not want to go backwards but forwards. Unfortunately, there are some Democrats who do fully understand the progressive philosophy of this program, the importance of its continued success, and that it's not a hand out. If they did understand this three underpinnings of the program, they wouldn't keep dipping into the Social Security funds to pay for other programs. As a progressive-conservative, I oppose these kind of actions as well.
I agree with the assessments made by the Social Security Administration (SSA), that if action is not taken, our people could be looking at a 16.65 percent hike in their payroll taxes come 2040, and reduction of benefits to the recipients. Those who are 35 today, by the time they turn 69 in 2040 could be looking at a 26% reduction in benefits, with the same reduction continuing with each successive year thereafter.
Reform is clearly needed. My principles toward reform reflects the progressive approach that the "security" must not be taken out of the program. Therefore, I opposed privatization of any part of the Social Security program. I will vote against any attempt to creative individualized savings or investment accounts out of the program. Second, I oppose use of Social Security funds for any thing other than Social Security; to actualize this opposition, I will fight for the creation of a true trust fund, a Social Security Bank. It is my position that such a bank would preserve the integrity of the fund, and give a solid foundation for additional later reforms. The creation of a Social Security Bank would come with the additional requirement that the non-Social Security Federal Budget be in balance or surplus for the years in which Social Security makes investments. Such a requirement would make it easier to redeem any funds transferred out of the Social Security Bank.
Once a Social Security Bank is established, these further additional steps I support:
1. Raising the cap on earnings subject to contribution on Social Security Earnings
2. Making sure all workers, including Sate and Federal Employees are covered
3. Dedicating the Estate Tax Revenues to the Social Security Bank Trust Fund
4. Maintaining survivor benefits
5. Maintaining the current COLA Structure.
| |
|
|
|
