First, Social Security needs to be turned back into a trust fund like it was when it was first established and before the Democrat Party, under LBJ, raided it to pay for his Great Society programs and the War on Poverty.

 

Second, people should be allowed to pass what remains in their Social Security account to their descendant or another recipient of their choosing. The money you pay into Social Security is yours, not the governments; therefore, you should have control over it.

 

Third, Social Security benefits should not be considered taxable income. In 1983, Congress passed a bill that allowed Social Security benefits for households above a certain income threshold to be taxed at a rate of up to 50%.(1) In 1993, Congress increased the tax rate on Social Security benefits to 85% for households with higher incomes.(2) It’s time to repeal both.

 

1Cox, Chelsey and Anna Staver. “Fact check: Biden voted to tax Social Security, wants to reform retirement benefits.” USA Today. (2020). Accessed January 1, 2024. https://www.usatoday.com/story/news/factcheck/2020/10/16/fact-check-joe-biden-okd-social-security-taxes-wants-savings-reform/5896512002/

2IBID.