Yes, Secretary Paulson is saying that we need to take immediate action to “fix” Social Security.
They are, of course, using the word “fix” much in the same way that my veteranarian does.
We are (run around and scream like a little girl) about 41 years from insolvency! Ten years ago we were 42 years from insolvency! Think about what this means?
Ummmm…that in 410 years we will be down to zero years? But what do I know about math…I’m an engineer.
I think that the earnings cap should be removed and a portion of the amount collected needs to be diverted to medicare, where there is a problem, but my main reason for wanting the cap raised is the same is Warren Buffett. We both find it completely absurd that his secretary pays more of her salary in taxes than he does.
The Republicans want to kill Social Security. There is no crisis, and it does not need to be fixed, but it is a Federal program, it does not kill people, and it helps ordinary people, so they hate it for philosophical reasons.
The response to Republican attempts to kill Social Security should be, “Over the Elephant’s dead rotting body”.