Letter: Fixing Social Security

Published: 07-05-2024 4:03 PM

In a June 25 letter to the Monadnock Ledger-Transcript, Cole Mills of Keene wrote that L. Phillips Runyon’s “Personal freedom and the common good” from May 16 is the “opposite of common good.” Mills' comments on Social Security say the program will be unsupportable when the ratio drops to 2-1 of current employees to support the retirees. 

We need to collect Social Security taxes from those earning over the $168,600 cap on taxing earnings for this program. Why should the earners under the cap pay on 100% of their wages when those of high earnings stop paying at the cap? Way at the top they pay 3%

The Social Security Trust Fund has $2.788 trillion, according to its website. If we do not fix the system, the money will be gone post-2035 with each person collecting five-sixths of their checks. President George W. Bush borrowed $1.37 trillion surplus revenues for tax cuts for the rich and his war in Iraq and never paid it back. Look at the Social Security Trust's website for this information.

We need to be collecting Social Security taxes on the earners making more than the cap. We do not have a losing situation; rather need to stop dragging our heels and fix the situation now. This is another example of the ordinary man and woman paying while the higher earners get away with destroying our viable Social Security system taking care of each of us with our earned benefits.

Kath Allen