How Would You Fix Social Security?

For indispensable reporting on the coronavirus crisis, the election, and more, subscribe to the Mother Jones Daily newsletter.

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?

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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