|
The "problem" with Social Security came about when the payments were indexed to workers wages. Before this, congress had to vote, sometimes yearly, on increasing the benefit. At the time the indexing was done, this tying SS to wages was better than tying it to inflation, since wages weren't keeping up with inflation...
Wages are now increasing faster than inflation...
The reality is...Social Security was a Ponzai (pyramid) scheme and it has now finally come undone. Something has to be done to fix it. President Bush will fix it by moving to a style Chilean system.
__________________
James
The pessimist complains about the wind; the optimist expects it to change; the engineer adjusts the sails.- William Arthur Ward (1921-1994)
Red-beard for President, 2020
|