How Can We Fix Social Security?
Contrary to popular belief, it is possible to preserve Social Security for all generations without cutting benefits.
Part 1: Good News about Social Security
This talk shows that America is projected to have enough workers to support its future retirees. We CAN afford to honor our financial and moral commitments to future generations of retirees. We just need to figure out how to put an adequate amount of money into the Social Security Trust Fund.
TRANSCRIPT: Good News About Social Security (pdf)
Part 2: Protecting the Cost-of-Living Adjustment
Proposals have been made to decrease the cost-of-living adjustment by using a different inflation statistic in place of the conventional Consumer Price Index. However, a good case can be made for increasing the cost-of-living adjustment instead of decreasing it. This talk explains that we should keep the current formula until we can afford a more generous adjustment formula that reflects changes in the nation’s per capita income.
TRANSCRIPT: Protecting the Cost-of-Living Adjustment (pdf)
Part 3: Preserving Social Security for All Generations
This talk proposes a painless way to put more money into the Social Security Trust Fund. Instead of controlling inflation by raising interest rates for loans, we should increase income tax withholding when inflationary pressures get too strong. We can then restore the solvency of the Social Security system by depositing all of the resulting revenues in the Trust Fund. We do not usually think of tax increases as “painless,” but this talk explains why this case is different.
TRANSCRIPT: Preserving Social Security for All Generations
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