Social Security: Only Steve Laffey has a consistent, honorable way to Fix it Financially, and Remove the Sexist Basis of the Program.
While Mrs. Haley, Mr. Trump and Mr. DeSantis are doing the best they can with what they know, it is time for a financial expert to run the country, and fix these giant FINANCIAL problems.
While Mr. DeSantis joins Mr. Trump in the “We’re not going to mess with Social Security as Republicans,” lane, Mrs. Haley proposes disguised benefit cuts for the younger generation.
It is so sad to see this from other presidential candidates. I find it fiscally immoral to say “We’re not going to touch Social Security.” But it may be even worse to take Mrs. Haley’s position.
Please look at this one page from the Social Security 2022 Trustee Report.
The unfunded liability is $61.8 Trillion. In order to fund that congress would have to raise the payroll tax from 12.4% to 16.9% or by 36%!!! (That’s the 4.5% number next to the $61.8 Trillion)
What Mrs. Haley is proposing as a retirement age change for younger people is still a bad investment. At best, it takes the unfunded liability down by 15%, or so, and is really akin to the disastrous Greenspan Commission of 1983. (It is still being phased in!)
My plan fixes the whole problem. Why don’t we have a debate on this one subject?
Social Security suffers from many other problems, including sexism. For example, did you know?…
1. If you are a high-earning woman and take time off to have children, the years of zero earnings won’t be filled in with earnings above the taxable ceiling arising in the years you earn above the ceiling.
2. Husbands can get their new wives’ widow benefits by being married for just nine months.
3. Because they accumulate less wealth by retirement, women are less likely than men to be able to afford to wait to collect far higher retirement benefits.
Chew on that for a few moments. We need a financial expert as President, and we need one now. That is why I am running. stevelaffey.com
We don't need disguised cuts for the younger generation. We need to fix this program fairly and quickly for the young people's well being and quality of life.
Steve is the only one who will do this. The only one who takes his advice from the world's preeminent Social Security expert, and the only one who is both a financial expert himself, and who has a proven track record of fixing similar problems, such as when he turned around a bankrupt city by becoming its mayor and applying his financial acumen and focused discipline to the problem.
His city changed from JUNK bond status to a very good investment grade in just 3 years, which is unprecedented in ALL of U.S. history -- that a city can jump 8 or 9 grades in such a very short time, or even at all. He applied his knowledge to reduce the borrowing costs of the city immediately and then tackled the overextended spending and its associated "sweetheart deals" (cronyism/corruption/dishonesty) that caused the bankruptcy in the first place.
It's bad when a city goes bankrupt and has a ripple effect on its state and even its region, but when a country goes bankrupt, as America has (-- this is why we are always hearing about raising the DEBT ceiling, because we ARE bankrupt) its effects are those of the proverbial FAILED STATE variety, like what you've seen in the news with Greece, Somalia, Argentina, Lebanon, Venezuela and others.
High inflation, high protracted (possibly permanent) unemployment, poor health of the citizens from reduced medical services, loss of national security from not having money for a robust defense, mass poverty, loss of easy ability of the country to borrow due to its destroyed credit worthiness reputation, loss of standing in the world both in terms of innovation/the economy and in military preparedness, social unrest, protests, and violence, etc.
You thought that American citizens' disagreements about how to handle Covid were violent?, just imagine that times a thousand. A country that doesn't pay its bills has these things happen to it.
There's one man who has concrete plans to fix this problem of the US having more financial obligations than it can ever pay, as structured currently. It's Steve.
Steve recognizes that we need a modern version of Social Security. That system was originally designed at a time when men were the sole breadwinners of the home and when there weren't any issues of there not being enough people paying into the system for retirees.
Because the large numbers of post World War 2 babies ("boomers") are now retirement age, the younger generations won't have any money left for their retirement unless this is fixed now. This asymmetry and the bias against women that are currently built into the system need to be fixed once and for all.
Women and young people deserve this, especially since they've been paying into this program for years. Steve's Purple Plan (purple because it has features that both Democrats and Republicans can get behind -- this is critical as it staves off subsequent bickering between the parties where they change or water down the rules or benefits every 4 or 8 years when their party is in power) fixes all of this.
Check it out at stevelaffey.com. Check out his plan to fix Social Security there, or look on economist Laurence Kotlikoff's site to see an even more detailed breakdown.
The country is broke. The young people are being set up for poverty and sickness.
The country is on the precipice of FAILED STATE status.
Yes, it can and will happen to even big beautiful America. Yes.
Send an honest man to Washington to fix this. It has to be done. And it has to be done now.
Just a few bullet points about why this Purple Plan is the real fix:
* fair to non-working or lower earning spouses
* progressive
* maintains current disability system
* unmanaged, passive (i. e., unbiased, world market driven) -- not run by biased, self interested brokerages that take fees and play favorites [i.e., pick stocks] -- this kind of system is not subject to manipulation
* more fair to workers paying in, with simpler rules