This past October, Romney introduced the TRUST Act, which would create a fast-track, closed-door process for cutting Social Security and Medicare.One has to ignore the author;s priors.
Of course, Romney isn’t saying he’d cut benefits, which is incredibly unpopular with voters of all political stripes. Instead, he’s using an Orwellian euphemism ― “strengthen.” But we know what Romney means, because politicians don’t shut the door when they’re trying to do something popular.
Any discussion about the future of Social Security should be done in the light of day, where the American people can see it. That’s just what House Democrats are doing, with the Social Security 2100 Act.
This legislation, which is co-sponsored by around 90 percent of House Democrats, increases Social Security benefits for everyone. It also has additional targeted increases for the most vulnerable beneficiaries. On top of that, it addresses Romney’s alleged mathematical concerns by keeping the Social Security trust fund strong into the next century and beyond.
All of this is fully paid for, in part by requiring the wealthiest Americans ― like Romney ― to pay into Social Security at the same rate as the rest of us. Currently, Romney and his fellow millionaires stop paying into Social Security for the year after their first $137,700 in income. The 2100 Act also includes a modest, gradual increase in the overall payroll contribution rate.
By ignoing his priors, one can plainly see we are entering step one of the traditional generational overlap on entitlements. It is a mathematical requirement, like what the French are doing today. Note the ignorant senators want to do the generational overlap, then the normal generational default. We should do that later first so the former has more accurate pricing on the value of the generations.
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