Social Security fixable; changes politically tough
By STEPHEN OHLEMACHER
— Aug. 19 9:02 AM EDT
WASHINGTON (AP) — Despite Social Security's long-term problems, the massive retirement and disability program could be preserved for generations to come with modest but politically difficult changes to benefits or taxes, or a combination of both.
Some options could affect people quickly, such as increasing payroll taxes or reducing annual cost-of-living adjustments for those who already get benefits. Others options, such as gradually raising the retirement age, wouldn't be felt for years but would affect millions of younger workers.
All of the options carry political risks because they have the potential to affect nearly every U.S. family while raising the ire of powerful interest groups. But the sooner changes are made, the more subtle they can be because they can be phased in slowly. Each year lawmakers wait, Social Security's financial problems loom larger and the need for bigger changes becomes greater, according to an analysis by The Associated Press.
"Certainly, in the current environment, it would be very difficult to get changes made," Social Security's commissioner, Michael J. Astrue, said in an interview. "It doesn't mean that we shouldn't try. And sometimes when you try hard things, surprising things happen."
http://bigstory.ap.org/article/social-security-fixable-changes-politically-toughWhat in hell is so politically tough? Didn't Reagan raise the wage cap?
Why we can't we lift the cap, instead of taxing ONLY the bottom portion of wages, which means 100% of wages for lowest wage earners and pocket change for higher wage earners?
Any politician who can't make the fairness of that evident to the vast majority of voters should not be a politician.