Tag: Make Social Security Solvent Again
Why in the world would Republicans put out a plan to dramatically cut Social Security? Even Donald Trump said he wouldn’t mess with the program’s benefits. Yet, the Republican Study Committee’s Blueprint to Save America, released in June, has a full section devoted to Social Security. I had never heard of the Republican Study Committee (RSC),…
The brief’s key findings are: As policymakers consider restoring balance to Social Security, understanding the reason for the shortfall is important. Specifically, the program’s “pay-as-you-go” approach, which dates back to the late 1930s, makes it expensive relative to a funded system. Paying full benefits to Depression-era workers meant forgoing the opportunity to accumulate more revenu…
