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Author: whiteben One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75540  
Subject: Re: Social Security Tax Date: 8/26/2003 3:50 PM
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Frankwomble wrote:
If we don't force our politicians to get their act together, you can certainly count on: increased SS taxes, increased retirement ages, and reduced SS benefits in the future. The demographic train wreck is coming whether we like it or not.

Exactly right. I am not sure that the public necessarily needs to understand SS reform in great detail. Certainly they do not understand the current system at all or else everyone under the age of, say, 50, would be wildly jumping up and down for SS reform.

The hope I have is that this will increasingly become a vital national election issue. As the Ponzi scheme that is SS begins to collapse voters will find themselves with a two basic, stark choices:

1. Reduce benefits and/or increase taxes and/or increase retirement age
or
2. Run increasingly large deficits.

The same rock-and-hard-place choice is applicable for things like Medicare. Who do you think would pay for an extensive senior drug program (if such a thing comes to pass)? Hint: the seniors are not working any more.

Like frankwomble I am pessimistic on people waking up to this in the near future. But I am hopeful that over the next decade or two these program could be streamlined to reduce the hemorrhage of money. Or maybe I am just pissing into the wind here.

BEN
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