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Solution Submitted By:
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mshambaugh |
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Currently, Social Security benefits are increased according to wage growth. Because wage growth over the last many years has significantly out-paced inflation, the relative buying power of Social Security recipients (who are no longer contributing to the system) is increasing, as is the burden on future wage earners. Social Security benefits should be tied to the wages that were earned by the recipient, not those earned by their children and grandchildren. Change the basis of Social Security benefit increases to the rate of inflation, rather than the rate of wage growth. This change alone could potentially avert the coming Social Security crisis.
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