As we all know, there is a huge problem with the social security system in this country. According to the Social Security trustees, "Based on revised assumptions, the trustees now estimate that by 2041 the system's trust fund will be exhausted." (CNNMoney) This will leave many of us younger people out to dry by the time we reach retirement age. Bush has proposed that privatization of a portion of Social Security is the way to make sure we have income after retirement.

To me, this seems like a poorly thought out idea. Unfortunately, the majority of people who Bush imagines investing in their own, personal retirement accounts would not do so. The money they were supposed to be investing would instead get spent on things immediately. This would obviously leave many people in serious financial trouble come retirement.
I believe that the best way to fix this problem is to remove the cap on contribution to Social Security.

As it stands today, every dollar a person earns, up to, but not over, $87,900, is liable to a 6.2% Social Security tax, to be matched by the employer. Once a person surpasses this cap, the ramaining earnings are not taxed for Social Security purposes. Needless to say, the people who earn salaries over this amount and can really afford it, don't have to pay.

For example, a CEO of a major corporatin earns $500,000/yr. This means that he/she would pay $5,449.80 in Social Security tax on the first $87,900, and none on the remaining $412,000.

If the cap were to be removed, the same person would pay $31,000 in Social Security tax. Doesn't it seem obvious to the government that the solution is to remove the cap? By removing the cap, the amount paid into the Social Security fund every year would skyrocket, making sure that there will be money to pay out long past 2041.

I would like to hear other people's views on this, along with alternative solutions to the problem.

Shift to a pay-in = pay-out system,
with some damping factor.
May not always pay a lot, but it's then
never out of money, and it doesn't
accumulate money for slimy politicians
to spend on other things.

The little secret is...SS isn't in much trouble at
all, if you tweak output down a tiny bit,
or input up a tad.
No, the real crisis is, they already spent it, and
crapped up th ebalance books to hide that.

Wax--

Social(ist) Security is actually two things-- a regressive tax, and a system of transfer payments.

It was designed this way on purpose. As FDR, the worst president in American history put it, "We put those payroll contributions there so as to give the contributors a legal, moral, and political right to collect their pensions¦. With those taxes in place, no damn politician can ever scrap my social security program."

In other words, if socialist security wasn't sold as a system of social "insurance," where taxes are "contributions," where government IOUs are a "trust fund," and other Orwellian doubletalk-- then people would see right through it. SS is structured like an unsustainable Ponzi scheme, you get an awful return on your money, it adversely affects low income people, and it penalizes businesses for hiring people--- no person in their right mind would rationally support it. But create a sense of entitlement, a sense of poor against the rich, etc -- then the passions take over, and many people act against their self-interest.

I should at least be given the choice of opting out of this joke of a program.

It sort of started with the idea that some people
couldn't save for retirement or take insurance.
If it were eliminated, wouldn't employers simply
pocket the difference?

Use a registry cleaner software like Ccleaner, Advanced system care etc.

Manually fixing registry error without expertise can only cause more problems.
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