What Do You Want to Know about Social Security Reform?

As the editor of this blog, it occurs to me that there may be many questions about Social Security reform. Why do we need it anyway? Isn't the present system working perfectly well? What can be done to make the system better? If you have been following this blog, you know that I believe reform of Social Security is essential. The sooner we start, the less costly it will be.

Following is a list of questions about which you may want additional information. I will summarize the responses to this blog and let you know what others are thinking about.

Do you want to know what happens to the taxes paid in by employees and employers?

Do you know that there has been a surplus accumulating since 1983? Do you want to know how those funds are handled by the federal government?

Are you concerned about what is likely to happen to those persons currently receiving Social Security with or without reform?

You know that most workers pay into the system from each paycheck. Do you know how that money is returned to them? Do you know what happens to the funds paid in by or on behalf of single people if they die before reaching Social Security age? Do you know that under the current system, workers subsidize non working spouses? (That may be a perfiectly acceptable social goal but is it economically justified?) Do you know that working spouses who earn less than the Social Security wage limit and who are married to a high wage earner actually do not receive a benefit based on their own taxes?

Are you concerned that if personal retirement accounts were instituted, people would invest foolishly and wind up with no retirement income? Do you have suggestions for avoiding that consequence?

Let me know what concerns you about the current system. Let me know why you think we need not make any changes, if that is your opinion.