I keep seeing these articles and memes about social security. I’m being told how the system will run out of money. I realize these articles are designed to incite, the reason is easy to understand, inciting is profitable. Well, I’m not buying it.

I have never heard that any welfare programs are in danger of going broke. In fact, all I hear is how they should all be expanded, to include the entire population of the planet. Elon Musk will pay for it.

The social security system. The first title for the program was the Economic Security Act. By the time it was signed into law in 1935 it was called social security. Theodore Roosevelt called it a part of his “New Nationalism.” The intent was a retirement stipend for the elderly. It also included a “death benefit.” The democrats called it, socialism!

As we all know there have been many changes to that program over the years and over various administrations. At first, you were to pay 1% of your income into the system if you worked in “commerce”, field hands and railroad workers were exempt from that and also not eligible to receive benefits.

As with everything governmental, it isn’t as straightforward as one might think. All sorts of exemptions and exceptions to the rules are hidden in paragraphs, sub-paragraphs and line items. You are to be taxed on up to 85% of that income, unless you are not. You can make too little or make too much.

If you earn more than 184,500 dollars you only pay social security on that amount. That’s the top limit. If you are self-employed that means you would pay in 12.5% of that income to the social security trust fund. That cap is voted on every year.

The maximum benefit you can receive is 5,181 a month. That’s 62,500 a year. In order to receive that you have to earn over 184,500 a year for thirty-five years and retire at age 70. If you are paid $30.15 an hour you earn 62,500 a year.

It seems obvious, doesn’t it? The system is going broke because it pays out more than it takes in. The solution, tax the rich people, make them pay more into the system and allow them to get less!

Of course, those that don’t earn enough, should continue to receive benefits, benefits that should be increased, without any increase in the tax they pay. Those benefits should be at least what Dunkin Donuts pays their workers, 41,600 annually, that’s twenty an hour.

The only fair way I see any of this working would be if the benefit you received where directly proportional to the amount you paid in. The most you can get is $5181.oo a month. That’s just $62,500 a year.

In today’s economy that isn’t all that much. Perhaps we should just change the structure altogether. The more you pay in, the more you take out, without any limit on that. How many people today earn greater than that 184,500 annually? They aren’t all millionaires that much is certain. Still, maybe they should pay more in taxes as well. Seems fair enough to me.