Social security needs to change

The Leopard Spot

In my last newsletter I mentioned I had attended The White House Conference on Aging and had listed some of the resolutions we had passed. I will now address one of those resolutions in further detail.

We need to make changes to Social Security (the following list describes what some of the changes we want Congress to consider).
Raise the cap on earnings subject to Social Security tax (or eliminate the cap altogether)
This will provide more Social Security funds

Expand Social Security to ALL workers (that includes our congressmen etc.)
This would provide more Social Security funds

Lower benefits to higher wage workers
This would provide more Social Security to those who need it

Invest 15% of Social Security fund assets in equities at assumed 6.5% inflation- adjusted return over 2006-2020
This would give everyone a better return for their money than they have been getting and would provide a bigger pot.

Accelerate the increase in retirement age (to 67)
This would add two years to when our “boomers” would be eligible for Social Security and would help keep it solvent longer

Tax Social Security like private pensions
Not popular but an option
Remember, these were just some ideas on how to keep Social Security solvent for a longer period of time since the first “Baby Boomers” started turning 60 this year at a rate of one person every 7.5 seconds (or 11,520 people per day).

Yours truly,
David Leopard
Identity Theft Presenter
The Aging of America Speaker