Whether you are a Democrat, a Republican, a liberal, a conservative, old or young, there is one issue that should be of concern to all. As has been widely reported, the Social Security trust fund will experience shortfalls starting in 2034 unless Congress and the president take action.
There has been much talk about possible solutions to this Social Security solvency issue. Many solutions have been discussed and evaluated by economists. The proposals include: raise the full retirement age; begin longevity indexing; recalculate the COLA; increase the payroll tax cap; eliminate the payroll tax cap; reduce benefits for higher earners; increase the payroll tax rate; apply payroll tax to all salary reduction lans (such as flexible spending accounts); cover all newly hired state and local government workers; increase number of years used to calculate initial benefits; and begin means-testing Social Security benefits.
Regardless of which option you prefer, what is needed is action by our elected officials. Now is the time to convey to candidates for the House of Representatives, Senate, and the presidency the need for them to outline the definitive action they plan to take in order to keep Social Security safe for current and future retirees.
Prior to the November election, expect candidates to put their action plans in writing and not merely campaign talking points.
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All voters should carefully evaluate candidate positions before casting your votes in November. This is critical to not only the 179,000 current Social Security beneficiaries in District 7, but to our children and grandchildren.
Darrell Eickhoff, Conway