POSSIBLE SOLUTIONS: SOCIAL SECURITY REFORM

Fixing the Social Security System (OASDI) is relatively easy with relatively little discomfort caused anyone long-term.. Just a little political will and a few common sense adjustments and we'd be set.  Of course, these suggestions assume that we all agree that OASDI is a moral and compassionate system to have in place as a social safety-net of sorts for citizens of the U.S.  If it is determined that this one assumption is not correct then more fundamental reforms will be both contemplated and may ultimately prove necessary.

Common Sense Reforms that should go forward without delay or even much debate...

01.  Gradually increase the retirement age at which people qualify for benefits and index qualification for benefits with life expectancy to keep the program true to its founding in A.D. 1935.  Doing this over a decade and a half (in installments) until the eligibility age matches and then keeps pace with life expectancy is imperative.  The program was originally designed to pay an "old age" benefit to those who exceeded life expectancy which was age 62 back in 1935.  As the life expectancy of our citizens has increased over the years, the system has not kept pace.  This alone accounts for most of the shortfall of the current system.  Those nearest to retirement today need not be hurt or placed at a disadvantage.  Those of younger age have a longer horizon to prepare for the increased ages of eligibility.  This makes good, sound, reasonable sense, right?

02.  Raise the Social Security Wage Base or in other words, collect the social security tax on a greater percentage of income.  In 2010, the tax was collected on only the first $106,800 of a taxpayer's earnings.  This amount is affectionately called the Social Security Wage Base (SSWB).  With little pain the SSWB could be raised north of $180,000 which for relatively little more out of taxpayer pockets could bridge much of the projected shortfalls.

03.   Needs Test Benefits preserving COLA adjustments for those most in need while reducing the increase in benefits for the wealthy.  Though it may seem that this provides an artificial incentive for those who are not as successful or productive over a life-time I suppose I argue that if someone is going to purposely not succeed to preserve their COLA on their social security benefits, we are dealing with a "head job" that will cause many more problems for society than this somewhat inequitable incentive.  Keep this all in perspective.  The last thing the wealthy need is inflation protection on their paltry social safety-net benefit, right?

Why has delay been the "watch word" on these sort of common sense, relatively easy reforms that make all the sense in the world???  Good heavens, congress...ACT, LEAD, GOVERN!!!