How Would You Fix Social Security?

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

Responding to yesterday’s post showing that high-income men live quite a bit longer than low-income men, an anonymous commenter writes:

The data is a very strong argument for removing the ceiling on Social Security payments — that is, collecting Social Security on 100% of wages, no matter how high (while not adjusting benefits). That’s because the Social Security system, now, assumes that life expectancy is the same for low-income and high-income workers, while in fact low-income workers collect benefits for far fewer years. So higher-income workers *should* pay more than they do today.

That’s an interesting point, no? Fair is fair. (Though you can adjust that 100% to 90% or 95% or whatever floats your social equity boat.) And while we’re on the subject, the Congressional Budget Office recently issued a report (here) that includes a nice table that allows you to play the Social Security game from the comfort of your own home. Basically, CBO estimates that Social Security is out of balance by 0.6% of GDP over the next 75 years, which means you need to come up with a basket of changes from their list that adds up to 0.6%. So choose away and build your own Social Security rescue plan!

And when you’re done with that relatively trivial exercise, it’ll be time to move on to Medicare. Unfortunately, that’s a wee bit harder and no handy little table will provide the answers. Which, of course, is why people prefer spending their time on Social Security. It’s mostly grandstanding, but if they ever actually fixed it they’d have no choice but to tackle genuinely difficult problems. And what kind of moron gets elected to Congress to do that?

TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

payment methods

TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate