Fix the Social Security Trust Fund Now
If current trends continue, the Social Security Trust Fund will be exhausted by 2023. I propose to restore the social security trust fund to sustainability by lifting the cap on income that is taxed for the fund and by reducing benefits for the highest earners. Currently, only income up to $118,000 is taxed for social security. A whopping 94 percent of Americans make less than that amount, and all of those people pay social security tax on their entire paycheck. Those who make more than $118,000 pay social security tax on that amount, and then pay no social security tax for the income received above $118,000. The problem with this system is that 85 percent of all new income in recent years has gone to the top 1 percent of wage earners. So all this new income is not helping solve the social security shortfall. The disparity in wealth between rich and poor in America is worse now than at any time since 1928. My solution to the challenge of restoring the social security trust fund would address this horrible and unsustainable inequality. My opponent's proposal is to use the same Republican tactics that will make inequality worse: raise the retirement age, etc. etc.











