Raise the cap | AspenTimes.com

Raise the cap

Dear Editor:In answer to Bill Schaffer’s letter to the editor (Aspen Times, Feb. 17), let me say again that there is no Social Security crisis. It doesn’t even have a problem yet. But now is the reasonable time to think about future shortfalls and make plans to forestall them.Mr. Schaffer said that I “advocate more taxes to solve the problem …,” and that this “will make the problem worse …” because “the more we increase the debt to Social Security, the worse the drain on general revenue will be when we finally have to pay the debt.”The tax increase I suggested was to raise the cap on taxable earnings from the present $90,000 on up to the top. This would not increase the burden on earnings below $90,000. I fail to see how this would “increase the debt to Social Security … .” I do see that Congress has been taking the Social Security surplus and using it to pay for ordinary expenses, while covering up the need to raise taxes, thus passing the tax buck on to future generations and letting the blame fall on Social Security. Raising the cap on taxable earnings and the cap on benefits would be a step toward fixing Social Security. Private accounts won’t.Yes, Mr. Schaffer, I and most Democrats do admire a state that pays attention to the welfare of its citizens, including those least able to care for themselves – the aged, the disabled, the orphaned – those for whom Social Security was designed.Peter LarroweCarbondale

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