To The Editor
In a recent article by Robert Lemke, Mr. Lemke states: “There is no money in the social security trust fund.” This information has been disseminated by Fox News and Republican Hate radio for many years and the followers of those media outlets, like lemmings, buy into this propaganda.
Some very simple research reveals that the Social Security Trust Fund Mr. Lemke is referring to is currently very well-funded. However, it is not sustainable.
In a June 5, 2018, letter from Treasury Secretary Steve Mnuchin to then-House Speaker (R) Paul Ryan titled: “BOARD OF TRUSTEES OF THE FEDERAL OLD-AGE AND SURVIVORS INSURANCE AND FEDERAL DISABILITY INSURANCE TRUST FUNDS," Mr. Mnuchin states that the “Old-Age” (OASI) benefits, if left alone, are sustainable for 75 years. However, the Disability Insurance (DI) will expire by the year 2035 if left unchanged and providing the “Low Cost” model prevails.
Long story short, the Social Security system we have enjoyed for the past 84 years has been a thorn in the Republicans’ side ever since its inception. Why? Because Republicans want to see their Wall Street banker buddies make a profit from our investment by privatizing SS. Make no mistake, these monies are ours. They are deducted from our paychecks and matched by our employers (something else Republicans don’t like) each week. Therefore, the SS system is not an “entitlement program” as Republicans proclaim; it’s our money.
What can be done to make SS sustainable? Simple, stop the entitlement for the wealthy. Currently the SS payroll deduction ends as soon as a person earns roughly $122,000. This cap needs to end; there should not be a limit.
Vote American, Not Republican. Our Social Security system is here to stay.