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Home Opinion

Fixing Social Security is straightforward, but may displease the wealthy

by bullnews
December 6, 2024
in Opinion
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To the editor: Even though the dust of the 2024 election isn’t entirely settled, with the inauguration still over a month away, President-elect Donald Trump’s inner circle is swiftly targeting Social Security, and it seems Medicare might soon face scrutiny as well! (“GOP and Musk unveil a threat to Social Security,” column, Dec. 3)

Here’s a straightforward solution to Social Security’s insolvency dilemma: Implement a universal tax policy where everyone contributes on their entire income—eliminating tax loopholes that favor the wealthy. Everyone should at least match the contribution rate of low-wage workers.

As a former teacher now retired, I forked out approximately 25% of my income in taxes last year. Just imagine the impact if Elon Musk paid 25% on his income for a single day—he probably wouldn’t even notice it’s missing.

Cathy Zemlick, El Cajon

…

To the editor: In columnist Michael Hiltzik’s otherwise superb article, there’s an oversight.

Sen. Mike Lee (R-Utah) argued that putting money elsewhere could yield better returns than Social Security. Consider how many people overlook employer retirement plans, despite attractive matches, and you recognize the substantial gamble involved in that “if.”

Social Security arose because many folks never set aside money for retirement. Remember the days of elderly individuals having to sell apples on street corners? That was a key reason for adopting Social Security.

Does Lee truly believe an increase in poor elderly and disabled individuals is beneficial for America?

Barry Davis, Agoura Hills

Tags: displeaseFixingSecuritySocialstraightforwardWealthy
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