{"id":131,"date":"2012-12-18T15:30:41","date_gmt":"2012-12-18T15:30:41","guid":{"rendered":"http:\/\/www.unitedwestandllc.com\/uws\/?page_id=131"},"modified":"2014-07-03T23:53:56","modified_gmt":"2014-07-03T23:53:56","slug":"proposals","status":"publish","type":"page","link":"https:\/\/www.unitedwestandllc.com\/uws\/expenditures\/social-security\/proposals\/","title":{"rendered":"Proposals"},"content":{"rendered":"

Social Security Proposals<\/strong><\/h1>\n

 <\/p>\n

There are many proposals to deal with the Social Security insolvency.\u00a0 Here are some below.<\/p>\n

 <\/p>\n

1. \u00a0Simpson Bowles Plan
\n2. \u00a0Domenici Rivlin Plan
\n3. \u00a0The Heritage Foundation
\n4. \u00a0The Concord Coalition
\n5. \u00a0AARP Plan
\n6. \u00a0United We Stand Proposal (see below).<\/p>\n

 <\/p>\n

United We Stand Proposal<\/strong><\/h1>\n

\u00a0<\/strong><\/p>\n

In order to insure the long term solvency of the Social Security Program, there are many steps that might be taken to accomplish this important national priority.\u00a0 However, the options to reach this important goal come down to increasing the social security taxes to support the program or lowering its expenditures and in effect the benefits of the program.<\/p>\n

 <\/p>\n

We are recommending the following steps.<\/p>\n

 <\/p>\n

For tax increases to support the Social Security Program<\/h4>\n

 <\/p>\n

1. \u00a0Subject earned income up to $218,100 to social security taxation from $117,000 in calendar year FY2014. This will cover 36% of the Social Security shortfall.<\/p>\n

 <\/p>\n

2. \u00a0Remove the exemption from social security taxes on salary reduction plans.\u00a0 This step is unscored.<\/p>\n

 <\/p>\n

3.\u00a0 Subject Flexible Spending Account withholdings to Social Security Taxes.\u00a0This step is unscored.<\/p>\n

 <\/p>\n

4.\u00a0 Subject Cafeteria Plan Employer expenditures to Social Security Taxes.\u00a0 This\u00a0step is unscored.<\/p>\n

 <\/p>\n

5.\u00a0 Subject commuting Employer expenditures to Social Security Taxes.\u00a0 This\u00a0step is unscored.<\/p>\n

 <\/p>\n

6.\u00a0 Subject Health Insurance Employer expenditures to Social Security Taxes.\u00a0 This\u00a0step is unscored.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

For lowering the expenditures on social security,<\/h4>\n

 <\/p>\n

1.\u00a0 Increase the age when full social security benefits can be taken.\u00a0 The present age is\u00a066 to 67 depending on your date of birth.\u00a0\u00a0 Increase the age for full social security\u00a0benefits to 70 (phase in starts in 2023 and is finalized in 2040).\u00a0 This will cover\u00a044% of the Social security shortfall.<\/p>\n

 <\/p>\n

2.\u00a0 Increase the age when full social security benefits can be taken using a longevity\u00a0Index starting in 2041.\u00a0\u00a0 This will cover 23% to 27% of the social security shortfall\u00a0depending on the details of the plan.<\/p>\n

 <\/p>\n

3.\u00a0 Freeze social security payments for 3 years.\u00a0 This will save $13 billion in FY 2015,\u00a0$30 billion in FY 2016, and $48 billion in FY 2017.\u00a0 There will be no retroactive\u00a0adjustment in the future to make up for this freeze.<\/p>\n

 <\/p>\n

4.\u00a0 Change the cost of living escalator from the CPI to the Chained CPI.\u00a0 This will\u00a0cover 23% of the Social Security shortfall.\u00a0\u00a0 It will also reduce expenditures by\u00a0$11 billion per year.<\/p>\n

 <\/p>\n

5.\u00a0 Increase the number of years in the wage history used to calculate social security\u00a0benefits from 35 years to 38 years.\u00a0 This will cover 13% of the Social Security\u00a0shortfall.<\/p>\n

 <\/p>\n

6.\u00a0 Make the social security benefit calculations more progressive than they currently\u00a0are using the Simpson Bowles Plan.\u00a0 This will cover 45% of the Social Security\u00a0shortfall.<\/p>\n

 <\/p>\n

7.\u00a0 Reexamine the disabled for recipients who can now work.\u00a0 For each 10% found to\u00a0be able to work, expenditures fall by $14 billion per year.\u00a0 The estimates range from 33% to 67% of the disabled can work.\u00a0 This generates between $47 billion to\u00a0$94 billion annually<\/p>\n

 <\/p>\n

By taking these steps, we move the social security program to a stable and solvent position in the long run.\u00a0 In addition, we decrease the deficit by $71 billion in FY 2015, $88 billion in FY 2016, and by $106 billion in FY 2017 and help to avert the insolvency of our country.<\/p>\n

 <\/p>\n

One final step needs to be taken. To prevent future problems, we must put into law that any insolvency of the Social Security Trust Funds noted in the annual report issued by the Trustees of the Social Security Trust Funds must be addressed by the Congress and the President. Any solvency issue not addressed by the Congress and the President by December 31 of the year the report is issued will result in the stoppage of pay for the Congress, the President, and the President\u2019s cabinet. Once the pay stops, no retroactive restoration of that pay will be allowed. <\/p>\n","protected":false},"excerpt":{"rendered":"

Social Security Proposals   There are many proposals to deal with the Social Security insolvency.\u00a0 Here are some below.   1. \u00a0Simpson Bowles Plan 2. \u00a0Domenici Rivlin Plan 3. \u00a0The Heritage Foundation 4. \u00a0The Concord Coalition 5. \u00a0AARP Plan 6. \u00a0United We Stand Proposal (see below).   United We Stand Proposal \u00a0 In order to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":127,"menu_order":0,"comment_status":"open","ping_status":"open","template":"expendituresnav.php","meta":{"footnotes":""},"class_list":["post-131","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.unitedwestandllc.com\/uws\/wp-json\/wp\/v2\/pages\/131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.unitedwestandllc.com\/uws\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.unitedwestandllc.com\/uws\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.unitedwestandllc.com\/uws\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.unitedwestandllc.com\/uws\/wp-json\/wp\/v2\/comments?post=131"}],"version-history":[{"count":17,"href":"https:\/\/www.unitedwestandllc.com\/uws\/wp-json\/wp\/v2\/pages\/131\/revisions"}],"predecessor-version":[{"id":874,"href":"https:\/\/www.unitedwestandllc.com\/uws\/wp-json\/wp\/v2\/pages\/131\/revisions\/874"}],"up":[{"embeddable":true,"href":"https:\/\/www.unitedwestandllc.com\/uws\/wp-json\/wp\/v2\/pages\/127"}],"wp:attachment":[{"href":"https:\/\/www.unitedwestandllc.com\/uws\/wp-json\/wp\/v2\/media?parent=131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}