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canada goose outlet near me +What should the next president do to make Social Security more sustainable? It’s become a cliche to say that Social Security is unsustainable, cheap Canada Goose butit’s also the truth. The Social Security Administration projects that it will only be able to pay its beneficiaries in full until 2037. If Congress doesn’t act, benefits will be cut for millions of retirees who have already contributed to the plan. canada goose outlet near me

canada goose outlet boston Efforts toreform the program have been launched: Rep. Reid J. Ribble canada goose coats (R Wis.), for example, has taken onthe unpopular task of proposing potential fixes, which include a combination of expanding taxes, uppingthe retirement age and reducing future canada goose clearance sale benefits by pinningthemto more accurate inflation measurements. canada goose outlet boston

canada goose outlet new york city Hillary Clinton has statedthat she doesn’t want to roll back Social Security benefits in any way. In fact, she wants to expand the program. Canada Goose Coats On Sale Donald Trump, meanwhile, hasn’t laid out any specific policy points on Social Security, but he has said that he opposes any cutsto benefits. canada goose outlet new york city

canada goose outlet winnipeg address Are the most popularly proposed Social Security reforms raising the retirement age, reforming cost canada goose uk black friday of living adjustments or expanding the withholding tax fair to retirees and workers? If not, what should be done to make the program sustainable going forward? canada goose outlet winnipeg address

canada goose outlet kokemuksia Rachel Greszler is a senior policy analyst at the Heritage Foundation. canada goose outlet kokemuksia

canada goose jacket outlet Social Security is unsustainable. It faces an $11.4 trillion deficit over the next 75 years. Yet Donald Trump wants to maintain canada goose black friday sale current benefits, and Hillary Clinton wants to expand them. canada goose jacket outlet

canada goose outlet trillium parka black The next president needs to recognize that Social Security is much larger than it was ever intended to canada goose factory sale be or needs to be and that maintaining its current benefit structure will cause a Canada Goose Parka huge drag on workers’ paychecks and economic growth. Social Security canada goose uk shop could better accomplish its goal with significantly lower cost Canada Goose Jackets through a flat, anti poverty benefit. canada goose outlet trillium parka black

canada goose outlet store quebec It’s possible, as Clinton proposes, to reduce the program’s shortfalls by raising taxes on the rich. But that would be economically destructive, and politicians canada goose coats on sale would almost certainly Canada canadagooseuk.net Goose sale spend the higher taxes on other government programs. canada goose outlet store quebec

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canada goose outlet edmonton Although Clinton has avoided specifics, raising the payroll tax cap Canada Goose online would bring the top marginal tax rate (federal and state combined) to more than 70 percent, and applying the payroll tax to investment income would canada goose clearance raise the top rate to 36 percent. uk Canada Goose Outlet canada goose Such high taxes are neither necessary nor beneficial. canada goose outlet edmonton

canada goose outlet store near me Social Security was established to prevent poverty among individuals in their final years of life, when they were no longer able to work. But today, Social Security provides decades long benefits to many retirees. The poverty rate among the elderly is nearly 10 percent, but Social Security sends benefits of more than 2.5 times the poverty level to the highest canada goose uk outlet income retirees. The program has broken its canada goose outlet store near me

canada goose parka outlet If Social Security offered competitive returns or had a positive impact on the economy, its massive size may not be so terrible. But by taking payroll taxes that could otherwise be saved and invested and trading them for current government spending and future obligations, Social Security saps the economy of growth and guarantees paltry returns. canada goose parka outlet

canada goose outlet ottawa Most workers don’t realize that they could achieve much larger retirement incomes by saving far canadian goose jacket less than Social Security takes in taxes. Even workers earning $10 an hour could achieve Canada Goose Online Social Security’s promised benefit by saving half as much as the taxes demand. canada goose outlet ottawa

canada goose outlet 80 off [The problem with Social Security lies in its history] canada goose outlet 80 off

canada goose outlet germany Given its inefficiency as a retirement savings program, Social Security should focus on preventing poverty among seniors. This could canada goose be accomplished by gradually shifting toward a flat, anti poverty benefit, increasing the eligibility age in coordination with life expectancy and work capacity and using a more accurate measure of inflation. Almost nothing would change for Canada Goose Outlet current and near retirees, and future workers would eventually pay lower payroll taxes. canada goose outlet germany

canada goose factory outlet vancouver Are these reforms fair? Absolutely. Social Security was designed to kick in cheap canada goose uk when workers lose their capacity to uk canada goose outlet work. Since Social Security began, life expectancy has increased by 17 years, and jobs have become far less physically demanding, leading to the finding that workers could be working four years longer than they are. And while it makes sense to provide Social Security beneficiaries with an annual cost of living adjustment, it is irrational to use an outdated, narrow and inaccurate index that causes benefits to grow faster than actual inflation. canada goose factory outlet vancouver

canada goose outlet toronto factory A flat, would lift millions of retirees out of poverty. Although middle and upper income earners would receive less from Social buy canada goose jacket Security, they would be far better off financially (both in their working years and retirement) than if they were forced to pay higher taxes to maintain Social Security’s promised benefits canada goose outlet toronto factory.

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