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Only $74bn short? That works out to $232/yr each, or an extra $20 per citizen per month. That doesn't sound like all that much to spend to ensure Social Securi
by maxsilver 11y ago
Only $74bn short? That works out to $232/yr each, or an extra $20 per citizen per month.
That doesn't sound like all that much to spend to ensure Social Security stays available.
I think if you told people "we need to raise revenue through taxes 1.6% to ensure Social Security stays solvent for all working adults", most reasonable people would agree to that. At least, I would hope most people would think that's fairly reasonable.
- dpritchett 11y agoThey'll say "I don't trust the government to spend that money properly. Take $232/yr away from some entitlement program that services people who aren't directly related to me."
- toomuchtodo 11y agoIs "they" a large enough voting cohort for it to matter?
- dpritchett 11y agoYes, I think you'll find that the majority of U.S. citizens will vote down a tax increase, even if the intentions are good.
- toomuchtodo 11y agoI think you underestimate the size of the 55+ voting cohort. Taxes are going up, no matter what.
- tosseraccount 11y agoFederal Debt is $59K per person. http://www.bloomberg.com/visual-data/best-and-worst//most-government-debt-per-person-countries http://www.bloomberg.com/visual-data/best-and-worst//most-go... So that's about $120K per taxpayer. It takes a long time to pay that kind of debt down on stagnant wages. It's more than the annual GDP and one of the worst in the world: https://en.wikipedia.org/wiki/List_of_countries_by_public_debt https://en.wikipedia.org/wiki/List_of_countries_by_public_de... The right alternative to raising taxes might be to moderate spending and trying to pay down the debt. We need to not leave the kids with a bum debt.
- deleted 11y ago[deleted]