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Assumptions |
Gray Panthers' Proposal
There is no crisis: the funding "gap" is based on extremely pessimistic projections of economic growth; even so, below are some solutions to the "crisis." |
President's Proposal
Social Security does face a crisis in meeting obligations. We must act now to Save Social Security. |
Privatizer's Proposal
Social Security is a gravy train for Wall Street and wealthy Americans that, if privatized, will transfer wealth back to the rich make huge profits for investment brokers and the private sector. |
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Surplus Use |
1. Transfer 62 % of the total projected budget surpluses over the next 15 years to the Social Security system.
RESULT: Fills the projected "gap" until 2049.
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1. Transfer 62 % of the total projected budget surplusesi over the next 15 years to the Social Security system.
RESULT: Fills the projected "gap" until 2049.
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1. Use the surplus for 10% tax cuts and then use remainder to cover the administrative costs of privatizing.
RESULT: Less money=larger gap, in Social Security while removing any guarantees of protection.
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Other Sources |
2. Lift the cap on the wealthiest Americans to pay their fair share.
RESULT: Fills the projected "gap" beyond 2075 combined with the surplus.
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2. Collectively invest 15% of projected surplus in the stock market.
RESULT: Undermines guaranteed benefits, creates administrative waste, and combined with surplus, at best funds through 2055.
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2. Invest 50-100% of Social Security by individuals in the stock market.
RESULT: Individuals are liable for their investment choices with no safety net.
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Private Actions |
3. Fix what's broke - Increase corporate accountability to strengthen private pensions and portability. Social Security ain't broke, don't create private, individual accounts.
RESULT: The second leg of the stool is supported without raising taxes or creating liability.
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3. Create Universal Savings Accounts (USA) for every American with 11% of the surpluses, resulting in private accounts of about $100 per American.
RESULT: Creates individual accounts and slippery slope towards privatization
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3. Create individual or "personal" accounts for every American administered by Wall Street brokers.
RESULT: $240 billion of profit in the first 12 years for insurance & investment brokers from fees to manage your money, which the federal government now administers for less than 1%.
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End Results |
Guaranteed benefit for the next 75 years. |
Mostly guaranteed for the next 50 years. |
You're on your own. |
