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Two Questions About Social Security

J

JoeTheEconomist

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The program has been virtually invisible. Here are the two questions that I would like to have seen asked: Try and answer them.

Candidate Trump, you have suggested that the key to preserving Social Security is job growth, which will generate more revenue. The trustees of the trust funds have said that a purely revenue-based solution to the 75 years financing gap would be 20.8 percent more revenue, or $180 billion in 2017 alone. In terms of jobs, that figure equates to roughly 32 million new jobs. Is that a realistic approach when we have less than 8 million unemployed workers?

Candidate Clinton, during the Democratic primary debates, you stated that you have repeatedly said that you will stabilize Social Security by asking more of higher-wage workers. Yet, there is no reference to large-scale increases in payroll tax revenue in your speeches, interviews or the tax plan on your campaign website. The analysis of your economic plan by Politifact, CNN, CRFB, Tax Foundation and the Tax Policy Center found no incremental payroll tax revenue to stabilize the existing system, much less expand it. Can you help us understand how no one can find a $12 trillion tax increase in your economic plans?

These are jobs that Trump isn't going to create and taxes Clinton isn't going to raise. It is more of the same.
 
JoeTheEconomist said:
The program has been virtually invisible. Here are the two questions that I would like to have seen asked: Try and answer them.

Candidate Trump, you have suggested that the key to preserving Social Security is job growth, which will generate more revenue. The trustees of the trust funds have said that a purely revenue-based solution to the 75 years financing gap would be 20.8 percent more revenue, or $180 billion in 2017 alone. In terms of jobs, that figure equates to roughly 32 million new jobs. Is that a realistic approach when we have less than 8 million unemployed workers?
Click to expand...

donald-trump-pope.jpg


Candidate Clinton, during the Democratic primary debates, you stated that you have repeatedly said that you will stabilize Social Security by asking more of higher-wage workers. Yet, there is no reference to large-scale increases in payroll tax revenue in your speeches, interviews or the tax plan on your campaign website. The analysis of your economic plan by Politifact, CNN, CRFB, Tax Foundation and the Tax Policy Center found no incremental payroll tax revenue to stabilize the existing system, much less expand it. Can you help us understand how no one can find a $12 trillion tax increase in your economic plans?
Click to expand...

hillary-clinton-crazy.jpg


These are jobs that Trump isn't going to create and taxes Clinton isn't going to raise. It is more of the same.
Click to expand...

The fact that both answered "derp" or "IDK" to the question about a grand bargain at the third debate tells us as much. "There is no problem, we don't need to do anything, let it die on the vine, most of us will be dead before the kids notice and get pissed."
 
JoeTheEconomist said:
The program has been virtually invisible. Here are the two questions that I would like to have seen asked: Try and answer them.

Candidate Trump, you have suggested that the key to preserving Social Security is job growth, which will generate more revenue. The trustees of the trust funds have said that a purely revenue-based solution to the 75 years financing gap would be 20.8 percent more revenue, or $180 billion in 2017 alone. In terms of jobs, that figure equates to roughly 32 million new jobs. Is that a realistic approach when we have less than 8 million unemployed workers?

Candidate Clinton, during the Democratic primary debates, you stated that you have repeatedly said that you will stabilize Social Security by asking more of higher-wage workers. Yet, there is no reference to large-scale increases in payroll tax revenue in your speeches, interviews or the tax plan on your campaign website. The analysis of your economic plan by Politifact, CNN, CRFB, Tax Foundation and the Tax Policy Center found no incremental payroll tax revenue to stabilize the existing system, much less expand it. Can you help us understand how no one can find a $12 trillion tax increase in your economic plans?

These are jobs that Trump isn't going to create and taxes Clinton isn't going to raise. It is more of the same.
Click to expand...

Social Security is a dysfunctional concept except under certain specific circumstances. These were more or less those of the industrial countries over the past hundred or so years. Though, even then was increasingly suboptimal over the last decades.
This period has come to an end and neither candidate is offering a functional solutiin or alternative.

In Europe the equivalent systems are mostly closer to bankruptcy and even the large resources of governments are are already beginning to stumble. It has reached the point where the parties are being forced to abandon the programs' obligations and downsizing.
 
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