It's Really So Simple

(Letter to the Lake Charles American Press)

Dear editor:

I have read, re-read, and re-read your excellent front page story of Sunday, April 10, 2005, dealing with the Social Security “problem”, and it has left me completely at odds with our representatives in Washington, the President, Congressmen, Senators, both Republican and Democratic. What in the world is the problem?

The present Social Security payroll withholding is a regressive tax, and represents a larger portion of taxed income for those making under $90,000 than those making over that comfortable amount. If that was corrected, as pointed out in your article, and those making over $90,000 would continue to be taxed at the 6.2% rate, making it a progressive tax (as is income tax), then the problem would be solved, making the system solvent for 75 years and plugging 116% of the hole. No one would have to wait till a later age to receive their benefits and those same benefits could continue to offer a safety net for the elderly. (And oh yes, no more loans to the general fund.) It is that simple.

But is it? By doing so, big earners, who donate to election campaigns, would have to continue shelling out 6.2% of their income. In addition, companies would have to increase their 6.2% portion of Social Security payments for every employee making over $90,000. Let’s face it, no one wants to anger these corporations that shell out millions and millions to campaigns.

So, as usual, our congressmen, senators and president hide behind those huge donations and buckle under to the money givers. Isn’t it amazing that they have yet to offer up this simple solution to the center piece of President Bush’s second term agenda? Power sure does corrupt.