Today's Poll: Should Social Security be reformed?

All programs need to be reviewed and either reformed or eliminated over time. What works for one generation may not for another or simple economic realities often will prompt some kind of reform.

I voted yes, but the major problem with Social Security reform is that two whole generations have come to rely on Social Security as their only retirement funding, rightly or wrongly so.

Politicization is going to seriously hamper what really must be done here. It is unavoidable.

http://www.socialsecurityreform.org/history/

My vote for right now, today, is no. The # 1 problem with social security is the 3 trillion dollars in surplus that has been appropriated by congress since.......I don't know when, I think 1935, the first year people's hard earned money was entrusted to the social security trust. Had that money been left there like it was supposed to through the beauty of compound interest everyone would have a retirement fund and we would still be paying 2 or 3 % instead of 12% from the employee and 3% from the employer or 15% if you are self-employed. There has to be a plan to reduce spending elsewhere and begin paying back the SS trust, instead of discussing changing the formula. Then followed by a reduction in the contribution as the fund becomes solvent. Anything else is fiddling while Rome burns. The link I shared above does a good job laying out the problem and the history, but the Heritage Group's solution never mentions cutting spending. I could not support anything that does not.

Something else that I bumbled across about a month ago regarding the Disability component of the SS trust has to do with the dramatic increase of folks collecting disability in recent years. The article surmised that a lot of people who might otherwise live with a disability and work to support themselves and their families have been unable to find jobs, unemployment ran out and they then resorted to disability benefits if they qualified. I'm not accusing anyone of gaming the system, although we all know some are, I'm saying that good honest folk who would rather earn their way have to do what they have to do to survive. Another dirty little secret about the "dropping unemployment rate". That not only means more folks on the receiving end, but less on the production end. Unsustainable without replacing those surpluses.

totally AGREE with you, Dave. Well said.

Excellent points Dave

Dave I agree with your points and at this time think no they should not because it can be a viable system though it needs to have some tweaking and until they have an alternative that can be guaranteed to work we should leave it alone.
As far as scamming the system it does seem more people are on S.S.D. these days but after a discussion in a class at college last year I thought differently. More people are being given S.S.D. because more medical evidence is there to support the claimed level of pain a person has or instability issues for a multitude of reasons, M.R.I.'s can show where a persons agonizing in pain with a debilitating disease that in the past could not be shown on X-ray films. This with many other forms of nerve conduction tests have helped many people in need and brought light upon some that may not need it . Now with that being said it is true that there will always be ways for people to beat a system. Also people tend to think that because they see someone that appears normal to them for the moment you see them their able to work not knowing that just putting your shoes on can land you straight on your back for a month.

The first, easiest, and most logical reform would be the removal of the taxable wage cap. It continues to boggle my mind why such an easy and widely supported (by everyday, average Americans) reform gains no traction.

Its my money! and I need it now!

That makes sense Scott, medical science sure has advanced and continues to do so. I wouldn't make a judgement on someone else. There still are more people getting the benefit and less paying for it, which is making the problem of insolvency worse.

@Jeff_Allen, I could not agree with you more!! I've been saying the same thing for years.
This is SUCH a no brainer and I agree...it's not even TALKED about in the national media.

Another step would be to better regulate the private insurance industry. I can tell you that big insurance companies, like Liberty Mutual or Metlife, sell long term disability policies that require the insured to apply for SSDI. If you don't apply, you cannot collect on the private insurance. When you are approved for SSDI, you have to repay the private insurer. I feel that is strong armed tactics designed to bleed the coffers of SS. We need to evaluate and rectify abuses in both the public and private sector. I will never, ever buy private disability again.

The big problem with social security is there is less paying into the system..the ratio to those paying in to those taking out is less and less ..The population of the USA is flat ..There is reform needed..One is to pass immigration reform adding more people into the system....Unless the population grows Social security will fail..I agree with Jeff ..Get rid of the payroll cap.....As Dave pointed out if the money paid in was invested properly instead of being used to financed our debt ,social security would be in much better shape..Instead it is set up as a Ponzi Scheme which is doomed to failure..

It has become a slush fund for the corrupt and incompetent boobs known as "Congress" it's their little playground and they then raise our contributions every so often by threatening to let grandma starve. It's disgusting and wrong. The only way to fix it, is to repeal the 16th amendment, stop seizing portions of peoples paychecks, and fund all of governments from local to state and federal through a sales tax, included disability and old age/survivor benefits. Until then, return the surplus and stop spending it overseas.