Here's Hill's logical solution to the problem ~ " Doubling Social Security's individual payout would cost about $650 billion annually for the 51 million Americans who receive benefits. Here are some ways to pay for it. First, lift Social Security's payroll cap that favors the wealthy. Currently, Social Security only taxes wages up to $106,800 a year, and any income earned above that is not taxed. The net result is that poor, middle-class and even moderately upper middle-class Americans are taxed 12.4 percent (split between employee and employer) on 100 percent of their income, but the wealthy pay a much lower percentage. Millionaire bankers effectively pay a paltry 1.2 percent.... Making all income levels pay the same percentage - that's how Medicare works - is popular with Americans and would raise about $377 billion. Second, with all Americans receiving Social Security Plus, employer-based pensions would be redundant, so businesses no longer would need the substantial federal deductions they currently receive for providing employees' retirement plans. These deductions total a whopping $126 billion annually.Those two alone would provide three-fourths of the revenue needed to double Social Security's payout. Other possible revenue streams exist " See full article ~ http://www.truth-out.org/dont-cut-social-security-double-it64139
So there you have it ~ a rational common sense approach to not only jump start the economy but to relieve the stress of million of seniors who are existing on the very edge of poverty.
As Hill concludes ~ " In short, Social Security Plus would provide a stable, secure retirement for every American and contribute greatly toward a solid foundation from which to build a strong and vibrant 21st century US economy."
It's time for seniors to stop accepting $250 dollar bribes and demand a true National Retirement Plan built on a realistically funded Social Security investment which will not only financially sustain our retirees but will represent a true bottom up investment in our future versus our currently failed top down approach to economic recovery.
Seniors unite ! This is our campaign issue for this election as well as 2012.
Allen L Roland