Black Community News News and Commentary for Christians
Star Parker appeared on Straight Arrow News to warn us about Social Security’s long-term future. Is it time to privatize this massive program?
According to the latest Social Security Trustees report, there’s an unfunded obligation of $20.4 trillion through 2096. The program could be broke by 2034.
“That means doing nothing will automatically force deep cuts of 23 percent to everyone on Social Security,” Star said. But doing nothing puts the program at immense risk. Even if the program were stable, Star said, it still would present a “massive opportunity cost for Americans.”
The solution? Do we raise taxes and rob the young? NO. Star said we can build a system “that harnesses the power of the market to build real wealth.”
Some Americans don’t trust the market, and Democrats urge that unease. Wealthy leftists use private investment accounts. But millionaires like Biden, Rachel Maddox, and Joy Reid don’t trust their money to the government…yet, they oppose privatizing Social Security.
But Star said we should trust the markets more than we trust government bureaucrats and politicians. Watch her segment on Straight Arrow News to find out more.
Biggest increase in 40 years, but it wasn’t ths same increase for everyone and infact gave way more to some than others. Everyone had the same inflation cost increase for commodities such as fuel and groceries, etc. But Social Security didn’t give everyone the same increase to cope with these greater expenses.
8.3% amounts to less than $100 to many and over $200 to others.
I propose that the 8.3% go to the total SS Fund and be devided Equally amongst all recipients.
Everyone’s base Entitlements will still be according to how much they paid in, but increases should be Equal to keep it fair for everyone’s ability to cover inflation costs.